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Equity holdings and the financial performance of managed care firms

Equity holdings and the financial performance of managed care firms Agency theory, stewardship theory, the legalistic perspective and the substitution hypothesis have served as central themes of corporate governance research. Using this theoretical foundation, this study investigates the relationship between the equity ownership structure and performance of managed care firms. Results suggest that CEO stock options as a percentage of outstanding shares is negatively associated with some aspects of firm performance but that blockholder equity ownership appears to have an insignificant impact on firm performance. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Management Research News Emerald Publishing

Equity holdings and the financial performance of managed care firms

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Publisher
Emerald Publishing
Copyright
Copyright © 2004 Emerald Group Publishing Limited. All rights reserved.
ISSN
0140-9174
DOI
10.1108/01409170410784158
Publisher site
See Article on Publisher Site

Abstract

Agency theory, stewardship theory, the legalistic perspective and the substitution hypothesis have served as central themes of corporate governance research. Using this theoretical foundation, this study investigates the relationship between the equity ownership structure and performance of managed care firms. Results suggest that CEO stock options as a percentage of outstanding shares is negatively associated with some aspects of firm performance but that blockholder equity ownership appears to have an insignificant impact on firm performance.

Journal

Management Research NewsEmerald Publishing

Published: Jun 1, 2004

Keywords: Equity ownership; Firm performance; Agency theory; CEO; Blockholder; Managed care

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