THE IMPACT PF LARGE SHAREHOLDERS ON FIRM RISK-TAKING: EVIDENCE FROM A SMALL MARKET

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Abstract

This paper investigates the impact of active large shareholders on three measures of firm risk-taking. The results suggest a positive relationship between active large shareholding and income instability risk as well as strategy risk. Large shareholding was found not to exert any influence on risk based on stock returns.

Keywords: Agency Theory, Blockholders, Firm Risk-Taking, Large Shareholders

How to cite this paper: Graham, M. (2007). The impact PF large shareholders on firm risk-taking: Evidence from a small market. Corporate Ownership & Control, 4(4), 60-69. https://doi.org/10.22495/cocv4i4p4