According to Agency Theory and Neoclassical Theory; New Ownership and Diversity of Public Sector Companies in Corporate Life Cycle مقالة

مؤلف: Tavasoli، Abdollah ؛ Saeidi، Parviz ؛ Biglari، Bahram ؛

Advances in Mathematical Finance and Applications Winter 2018, Volume 3 - Issue 1 ISC (‎16 صفحة - من 1 إلی 16 )

الکلمات المفتاحية: Agency Theory Corporate Life Cycle Seizing assets Assuming ownership Neoclassical Theory

خلاصة:

The purpose of this study is investigating and determining rate of seizing assets and acquisition other companies by public sector companies. We estimate this rate at various stages of the life cycle of the company. Therefore, according to their size and age, the companies have been divided into small, large, young, and mature groups, and for this purpose, we have collected data from a sample of 45 companies of the public sector from three Iranian provinces. We have tested our analyses from the viewpoints of agency and neoclassical theories and discussed the results of the independent t tests. The results showed that with increase in age and size, public sector companies are more likely to seize the fixed assets of other companies to restructure and achieve improved operations. However, in the case of assuming ownership of other companies done through buying the companies, most public sector companies do this in the middle of their lifetime and in the course of their growth.

ملخص الجهاز:

According to Agency Theory and Neoclassical Theory; New Ownership and Diversity of Public Sector Companies in Corpo- rate Life Cycle Abdollah Tavassolia, Parviz Saeedi*, a, Bahram Biglarib a Department of Accounting, Ali Abad Katoul Branch, Islamic Azad University, Ali Abad Katoul, Iran. ARTICLE INFO Article history: Received 15 September 2017 Accepted 22 February 2018 Keywords: Seizing assets Assuming ownership Corporate Life Cycle Agency Theory Neoclassical Theory ABSTRACT The purpose of this study is investigating and determining rate of seizing assets and acquisition other companies by public sector companies. Theories related to agency predict that large public and private sector institutions in the last stages of their life cycle, while tired of growth opportunities, gain diversity and new owner- ship of their business. Mature institutions in the public sector are more likely to have acquisition and diversification in high rates of Tobin, which is accepted in agency theory with difficulty, but consistent with neoclassical theories in variability such as those offered by Maksimovic and Phillips [12]. According to literature and rely on agency theory and neoclassical theory, the study investigates to find out the whether or not the rate of acquisition and diversity in public sector companies changes significantly during their life cycle. So: • Hypothesis 5; the differences in rates of acquisition and diversity in public sector companies during the lifecycle with the predictions of agency theory is not significant. • Hypothesis 6; the differences in rates of acquisition and diversity in public sector companies during the lifecycle with the predictions of neoclassical theory is not significant.

استلام ملف الإرجاع :
(پژوهیار, , , )

تحميل
تحميل HTML

رابط قصير:

صفحة:

دخول / الاشتراک

تحتاج الدخول لعرض محتوى المقالة. إذا لم تكن عضوًا ، فتابع من الجزء الاشتراک.

دخول

الاشتراک

تحتاج دخول لعرض محتوى المقالة. إذا لم تكن عضوًا ، فتابع من الجزء الاشتراک.
إن كنت لا تقدر علی شراء الاشتراك عبرPayPal أو بطاقة VISA، الرجاء ارسال رقم هاتفك المحمول إلی مدير الموقع عبر webmaster@noormags.com .

You need Sign in to view the content of the article. If you are not a member, proceed from part Sign up.
If you fail to purchase subscription via PayPal or VISA Card, please send your mobile number to the Website Administrator via webmaster@noormags.com .

دخول / الاشتراک

تحتاج الدخول لعرض محتوى المقالة. إذا لم تكن عضوًا ، فتابع من الجزء الاشتراک.

دخول

الاشتراک