56 research outputs found
Upgrading of carbonaceous phosphate rocks by direct carbonation with CO2âwater solutions
Are all private benefits of control ineffective? : principalâprincipal benefits, external governance quality, and firm performance
Private benefits of control (PBC) are benefits that controlling shareholders consume, but that are not shared with minority shareholders. Research focusing on the value protection role of corporate governance typically frames PBC as principalâprincipal (PP) agency costs, and interprets them as a form of minority shareholder expropriation that decreases firm performance. Taking a value creation perspective of corporate governance, however, we propose a more nuanced role for PBC. Specifically, we see them also as PP agency benefits that compensate controlling shareholders for their monitoring and advisory services, which can increase firm performance. Since both PP costs and benefits affect firm performance, we theorize that PBC enhance firm performance at a diminishing rate. Furthermore, we show that the effect of PBC on firm performance is more positive when countryâlevel external governance mechanisms are strong
Intracranial Arteriovenous Malformation, Pulmonary Arteriovenous Fistula, and Malignant Glioma in the Same Patient
- âŚ