Exportar Publicação

A publicação pode ser exportada nos seguintes formatos: referência da APA (American Psychological Association), referência do IEEE (Institute of Electrical and Electronics Engineers), BibTeX e RIS.

Exportar Referência (APA)
Lopes, A. I., Lourenço, I., Soliman, M. T. & Branco, M. (2021). Is the relation between non-controlling interests and parent companies misleading?. Australian Journal of Management. 46 (1), 24-50
Exportar Referência (IEEE)
A. I. Lopes et al.,  "Is the relation between non-controlling interests and parent companies misleading?", in Australian Journal of Management, vol. 46, no. 1, pp. 24-50, 2021
Exportar BibTeX
@article{lopes2021_1732407119265,
	author = "Lopes, A. I. and Lourenço, I. and Soliman, M. T. and Branco, M.",
	title = "Is the relation between non-controlling interests and parent companies misleading?",
	journal = "Australian Journal of Management",
	year = "2021",
	volume = "46",
	number = "1",
	doi = "10.1177/0312896219896388",
	pages = "24-50",
	url = "https://journals.sagepub.com/doi/full/10.1177/0312896219896388"
}
Exportar RIS
TY  - JOUR
TI  - Is the relation between non-controlling interests and parent companies misleading?
T2  - Australian Journal of Management
VL  - 46
IS  - 1
AU  - Lopes, A. I.
AU  - Lourenço, I.
AU  - Soliman, M. T.
AU  - Branco, M.
PY  - 2021
SP  - 24-50
SN  - 0312-8962
DO  - 10.1177/0312896219896388
UR  - https://journals.sagepub.com/doi/full/10.1177/0312896219896388
AB  - This article investigates whether different levels of investor protection affect the equity market’s valuation of non-controlling interests (NCIs) in a consolidated corporate entity. Using a set of publicly listed European firms, our findings suggest a positive (negative) association of NCIs with parent companies’ share prices in countries with low (high) levels of investor protection. We interpret the findings as evidence that when non-controlling investors are not well-protected, parent companies have an opportunity to extract rents from non-controlling owners, leading to a positive valuation of NCIs’ equity. However, in countries where non-controlling investors are well-protected, parent companies are not able to extract rents but still must monitor and govern the related subsidiary; thus, NCIs become a net cost, and the relation inverts.
ER  -