Title of article
The Effects of Corporate Characteristics on Managerial Entrenchment
Author/Authors
Salehi, Mahdi Faculty of Accounting - Ferdowsi University of Mashhad, Mashhad , Lari Dashtbayaz, Mahmoud Faculty of Accounting - Ferdowsi University of Mashhad, Mashhad , Mohtashami, Masoud Islamic Azad University - Qaenat Branch, Qaenat
Pages
28
From page
245
To page
272
Abstract
The present study aims to assess the relationship between some corporate factors
and managerial entrenchment in companies listed on the Tehran Stock Exchange
during 2011-2017. Panel data regression models were used to test the hypotheses.
The obtained results indicated that four corporate factors, namely real earnings
management, predictable earnings management, institutional ownership, and board
independence, have a significant relationship with the managerial entrenchment. In
this study, the mixed index of managerial entrenchment is calculated using the
principal component analysis based on four governance mechanisms of the
percentage of shares available to the CEO, CEO duality, CEO compensation
logarithm, and CEO tenure. This process has made the present study distinct from
the previous ones, in which individual indexes were used for evaluating the
entrenchment.
Keywords
Corporate governance , Managerial entrenchment , Earnings management
Journal title
Iranian Journal of Management Studies (IJMS)
Serial Year
2021
Record number
2524638
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