Ownership, capital structure and corporate governance
What is it about?
An investigation of corporate governance practiced by co-operatives and mutual societies in New Zealand and relationship between their ownership structure, capital structure and agency costs. The findings indicate that an increase in independent directors, board member experience and organisation size (measured by total annual sales) reduces agency costs in co-operatives and mutual societies in New Zealand. Also, borrowing from members rather than banks reduces agency cost and increases profitability in co-operatives and mutual societies.
The following have contributed to this page: Dr Krishna Reddy and Stuart Locke
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