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- Publisher
- Wiley
- Copyright
- Copyright © 1990 Wiley Subscription Services, Inc., A Wiley Company
- ISSN
- 0954-1314
- eISSN
- 1467-646X
- DOI
- 10.1111/j.1467-646X.1990.tb00083.x
- Publisher site
- See Article on Publisher Site
Abstract
The organization of business around ‘industrial groups’ in Japan may result in relatively low stockholder/bondholder/manager conflicts. This study uses data from U.S. and Japanese firms to examine the effects of different agency environments on the determination of financial structure. Regression analysis of financial structure on proxys for agency‐debt and agency‐equity conflicts shows results consistent with extant agency theory concepts.
Journal
Journal of International Financial Management & Accounting – Wiley
Published: Jun 1, 1990