The role of multiple large shareholders in the choice of debt source

Research
Corporate and Market Finance

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In this video, Wael Rouatbi presents his paper entitled “The role of multiple large shareholders in the choice of debt source”, co-authored with Sabri Boubaker and Walid Saffar, and published in Financial Management in 2017. Using a large sample of French listed companies, this study shows that companies with multiple controlling shareholders tend to resort to bank debt financing. The paper also shows that this effect is more important in companies where agency problems between controlling and minority shareholders are more severe.

Liens et ressources

Mots clés

Actionnaires contrôleurs multiples, Choix de la dette, Contestabilité du contrôle, Control contestability, Corporate governance, Debt choice, Gouvernance d’entreprise, Multiple large shareholders, Ownership structure, Structure de propriété

Auteur.e(s)

ROUATBI Wael
Professor
MONTPELLIER Business School

Institution(s)

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