Abstract
In this paper, we investigate the relationship between ownership structure and value in Indian firms by testing for Monitoring and hypothesis, as well as Convergence of Interest and Entrenchment This study provides evidences in support of monitoring hypothesis. But we could not find any evidence in support of expropriation hypothesis. This paper reports evidence in support of both convergence of interest and entrenchment We find that though there is no evidence of Expropriation by significant shareholders in Indian firms but at a certain range of insider ownership, Indian managers get entrenched and firm value gets affected negatively.
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