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Agency Problem of the Firm with the Presence of Preferred Stock

초록

영어

This study examines whether there are agency conflicts within firms that issue preferred stocks, and whether agency conflicts affect to tax avoidance levels of the firm. Firms with preferred stocks have agency problems because they can consolidate managers’ rights compared to firms with only common stocks. This paper studies the degree of tax avoidance of firms that issue preferred stocks and finds that because of the existence of differentiated voting rights in the firm, the degree of tax avoidance is reduced.

목차

Abstract
 Introduction
 Literature Review and Hypothesis Development
 Empirical Method
 Data and Descriptive Statistics
 Empirical Results
 Summary and Conclusion
 References

저자정보

  • Jinho Jeong Division of Business Administration, College of Global Business Korea University Sejong Campus, Korea
  • Yonghyun Kwon Division of Business Administration, College of Global Business Korea University Sejong Campus, Korea

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