Student characteristics and academic success: An econometric study of the performance of "equity groups"

Like previous volumes in the Educational Innovation in Economics and Business Series, this book is genuinely international in terms of its coverage. With contributions from nine different countries and three continents, it reflects a global interest in, and commitment to, innovation in business education, with a view to enhancing the learning experience of both undergraduates and postgraduates. It should prove of value to anyone engaged directly in business education, defined broadly to embrace management, finance, marketing, economics, informational studies, and ethics, or who has responsibility for fostering the professional development of business educators. The contributions have been selected with the objective of encouraging and inspiring others as well as illustrating developments in the sphere of business education. This volume brings together a collection of articles describing different aspects of the developments taking place in today’s workplace and how they affect business education. It describes strategies for breaking boundaries for global learning. These target specific techniques regarding teams and collaborative learning, transitions from academic settings to the workplace, the role of IT in the learning process, and program-level innovation strategies. This volume addresses issues faced by professionals in higher and further education and also those involved in corporate training centers and industry.

On the relation between ownership structure and capital structure

The agency relationship between managers and shareholders has the potential to influence decision-making in the firm which in turn potentially impacts on firm characteristics such as value and leverage. Prior evidence has demonstrated an association between ownership structure and firm value. This paper extends the literature by examining a further link between ownership structure and capital structure. Using an agency framework, it is argued that the distribution of equity ownership among corporate managers and external blockholders may have a significant relation with leverage. The empirical results provide support for a positive relation between external blockholders and leverage, and non-linear relation between the level of managerial share ownership and leverage. The results also suggest that the relation between external block ownership and leverage varies across the level of managerial share ownership. These results are consistent with active monitoring by blockholders, and the effects of convergence-of-interests and management entrenchment.