Agency costs and ownership structure

JS Ang, RA Cole, JW Lin - the Journal of Finance, 2000 - Wiley Online Library
We provide measures of absolute and relative equity agency costs for corporations under
different ownership and management structures. Our base case is Jensen and Meckling's (…

Small business uniqueness and the theory of financial management

JS Ang - Journal of small business finance, 1991 - econstor.eu
Small businesses do not share the same financial management problems with large
businesses. This paper shows that the source of the differences could be traced to several …

On the theory of finance for privately held firms

JS Ang - The Journal of Entrepreneurial Finance, 1992 - digitalcommons.pepperdine.edu
This paper is a first attempt at differentiating the problems of finance of the privately held small
businesses from their larger counterparts. Small businesses, though not concerned with …

The administrative costs of corporate bankruptcy: A note

JS Ang, JH Chua, JJ McConnell - The Journal of finance, 1982 - JSTOR
The importance of bankruptcy costs as a determinant of corporate financing policy has been
extensively debated in the finance literature. The origins of the debate can be traced to …

Direct evidence on the market‐driven acquisition theory

JS Ang, Y Cheng - Journal of Financial Research, 2006 - Wiley Online Library
We provide direct empirical evidence that share overvaluation is an important motive for firms
to make stock acquisitions. We find that more overvalued firms are more likely to acquire …

Government ownership and the performance of government-linked companies: The case of Singapore

JS Ang, DK Ding - Journal of Multinational Financial Management, 2006 - Elsevier
In an emerging economy, the alternative to government control is often no governance. We
investigate the governance structure of government-linked companies (GLCs) in Singapore …

Does enforcement of intellectual property rights matter in China? Evidence from financing and investment choices in the high-tech industry

JS Ang, Y Cheng, C Wu - Review of Economics and Statistics, 2014 - direct.mit.edu
Using a unique and rich database of high-technology firms in China, we show that effective
enforcement of intellectual property rights at the provincial level is critical in encouraging …

Trust, investment, and business contracting

JS Ang, Y Cheng, C Wu - Journal of Financial and Quantitative …, 2015 - cambridge.org
How does trust affect business contracting at the firm level? We analyze the case of foreign
high-tech companies investing in China, where the risk of expropriation of their intellectual …

Evidence on the lack of separation between business and personal risks among small businesses

JS Ang, JW Lin, F Tyler - Journal of Small Business Finance, 1995 - econstor.eu
Small business researchers conjecture that there is little separation between business and
personal risks among small businesses. Personal assets and wealth can be subject to …

Composite measures for the evaluation of investment performance

JS Ang, JH Chua - Journal of Financial and Quantitative Analysis, 1979 - cambridge.org
The composite measures of investment performance: the reward-to-variability index, by
Sharpe ([29], [30]) and Lintner [23], and the reward-to-volatility index, by Treynor [33], were …