{"id":"https://openalex.org/W2135874367","doi":null,"title":"THREE ESSAYS ON OWNERSHIP CONCENTRATION IN NEW ZEALAND","display_name":"THREE ESSAYS ON OWNERSHIP CONCENTRATION IN NEW ZEALAND","publication_year":2009,"publication_date":"2009-01-01","ids":{"openalex":"https://openalex.org/W2135874367","mag":"2135874367"},"language":"en","primary_location":{"id":"pmh:oai:researcharchive.lincoln.ac.nz:10182/974","doi":null,"is_oa":true,"landing_page_url":"https://hdl.handle.net/10182/974","pdf_url":"https://hdl.handle.net/10182/974","source":{"id":"https://openalex.org/S4306400204","display_name":"Lincoln University Research Archive (Lincoln University)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I184746854","host_organization_name":"Lincoln University","host_organization_lineage":["https://openalex.org/I184746854"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"Thesis"},"volume":null,"type":"dissertation","is_traditional":true,"indexed_in":[],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://hdl.handle.net/10182/974","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5071054994","display_name":"Haiyan Jiang","orcid":"https://orcid.org/0000-0002-1806-5510","observed_orcids":["https://orcid.org/0000-0002-1806-5510"]},"institutions":[],"countries":[],"is_corresponding":true,"raw_author_name":"Haiyan Jiang","raw_affiliation_strings":[],"raw_orcid":"https://orcid.org/0000-0002-1806-5510","affiliations":[]}],"institutions":[],"countries_distinct_count":0,"institutions_distinct_count":0,"corresponding_author_ids":["https://openalex.org/A5071054994"],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":null,"has_fulltext":true,"cited_by_count":7,"citation_normalized_percentile":null,"cited_by_percentile_year":null,"biblio":{"volume":null,"issue":null,"first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9940999746322632,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9940999746322632,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10081","display_name":"Auditing, Earnings Management, Governance","score":0.002899999963119626,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T13957","display_name":"Corporate Governance and Financial Management","score":0.00039999998989515007,"subfield":{"id":"https://openalex.org/subfields/1408","display_name":"Strategy and Management"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/ownership-concentration","display_name":"ownership concentration","score":0.9990000128746033},{"id":"https://openalex.org/keywords/new-zealand-listed-companies","display_name":"New Zealand listed companies","score":0.6470000147819519},{"id":"https://openalex.org/keywords/ceo-compensation","display_name":"CEO compensation","score":0.875},{"id":"https://openalex.org/keywords/voluntary-disclosure","display_name":"voluntary disclosure","score":0.8629999756813049},{"id":"https://openalex.org/keywords/information-asymmetry","display_name":"information asymmetry","score":0.796999990940094},{"id":"https://openalex.org/keywords/adverse-selection","display_name":"adverse selection","score":0.7070000171661377},{"id":"https://openalex.org/keywords/state-ownership","display_name":"state ownership","score":0.9190000295639038},{"id":"https://openalex.org/keywords/managerial-ownership","display_name":"managerial ownership","score":0.8999999761581421},{"id":"https://openalex.org/keywords/stock-liquidity","display_name":"stock liquidity","score":0.8240000009536743},{"id":"https://openalex.org/keywords/ownership-structure","display_name":"ownership structure","score":0.5299999713897705}],"concepts":[{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.4214174151420593},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.37680160999298096}],"mesh":[],"locations_count":3,"locations":[{"id":"pmh:oai:researcharchive.lincoln.ac.nz:10182/974","doi":null,"is_oa":true,"landing_page_url":"https://hdl.handle.net/10182/974","pdf_url":"https://hdl.handle.net/10182/974","source":{"id":"https://openalex.org/S4306400204","display_name":"Lincoln University Research Archive (Lincoln University)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I184746854","host_organization_name":"Lincoln University","host_organization_lineage":["https://openalex.org/I184746854"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"Thesis"},{"id":"mag:2135874367","doi":null,"is_oa":false,"landing_page_url":"https://researcharchive.lincoln.ac.nz/bitstream/10182/974/3/jiang_phd.pdf","pdf_url":null,"source":null,"license":null,"license_id":null,"version":null,"is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":null},{"id":"mag:3145007780","doi":null,"is_oa":false,"landing_page_url":"https://researcharchive.lincoln.ac.nz/handle/10182/974","pdf_url":null,"source":null,"license":null,"license_id":null,"version":null,"is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":null}],"best_oa_location":{"id":"pmh:oai:researcharchive.lincoln.ac.nz:10182/974","doi":null,"is_oa":true,"landing_page_url":"https://hdl.handle.net/10182/974","pdf_url":"https://hdl.handle.net/10182/974","source":{"id":"https://openalex.org/S4306400204","display_name":"Lincoln University Research Archive (Lincoln University)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I184746854","host_organization_name":"Lincoln University","host_organization_lineage":["https://openalex.org/I184746854"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"Thesis"},"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":true,"grobid_xml":true},"content_urls":{"pdf":"https://content.openalex.org/works/W2135874367.pdf","grobid_xml":"https://content.openalex.org/works/W2135874367.grobid-xml"},"referenced_works_count":180,"referenced_works":["https://openalex.org/W61824641","https://openalex.org/W91940085","https://openalex.org/W206890942","https://openalex.org/W286297135","https://openalex.org/W396397163","https://openalex.org/W560314678","https://openalex.org/W644444972","https://openalex.org/W1488475356","https://openalex.org/W1492155385","https://openalex.org/W1523958081","https://openalex.org/W1524082215","https://openalex.org/W1538548636","https://openalex.org/W1551791931","https://openalex.org/W1552651532","https://openalex.org/W1555715885","https://openalex.org/W1560946795","https://openalex.org/W1563323840","https://openalex.org/W1566068427","https://openalex.org/W1570603628","https://openalex.org/W1573168576","https://openalex.org/W1593455549","https://openalex.org/W1593884130","https://openalex.org/W1605070712","https://openalex.org/W1606272114","https://openalex.org/W1607391144","https://openalex.org/W1742570976","https://openalex.org/W1765051938","https://openalex.org/W1837747855","https://openalex.org/W1846304793","https://openalex.org/W1863822584","https://openalex.org/W1964095394","https://openalex.org/W1964124055","https://openalex.org/W1966977762","https://openalex.org/W1966989567","https://openalex.org/W1967808875","https://openalex.org/W1968749720","https://openalex.org/W1970067848","https://openalex.org/W1970874735","https://openalex.org/W1973837722","https://openalex.org/W1979927021","https://openalex.org/W1980077269","https://openalex.org/W1980558667","https://openalex.org/W1981160460","https://openalex.org/W1981785312","https://openalex.org/W1985808284","https://openalex.org/W1986456478","https://openalex.org/W1987245422","https://openalex.org/W1988843954","https://openalex.org/W1993981983","https://openalex.org/W1994484501","https://openalex.org/W1994516515","https://openalex.org/W1994634035","https://openalex.org/W1995792757","https://openalex.org/W2002571022","https://openalex.org/W2004397006","https://openalex.org/W2011357832","https://openalex.org/W2011487370","https://openalex.org/W2014182748","https://openalex.org/W2015353363","https://openalex.org/W2017752325","https://openalex.org/W2018019456","https://openalex.org/W2018656655","https://openalex.org/W2020626982","https://openalex.org/W2024623582","https://openalex.org/W2025881436","https://openalex.org/W2027303896","https://openalex.org/W2030132760","https://openalex.org/W2031855300","https://openalex.org/W2032712062","https://openalex.org/W2033041791","https://openalex.org/W2033626483","https://openalex.org/W2034301206","https://openalex.org/W2035606631","https://openalex.org/W2036281662","https://openalex.org/W2043218395","https://openalex.org/W2043881376","https://openalex.org/W2044310753","https://openalex.org/W2044473084","https://openalex.org/W2045267273","https://openalex.org/W2045954215","https://openalex.org/W2053585366","https://openalex.org/W2054965424","https://openalex.org/W2055418603","https://openalex.org/W2055919144","https://openalex.org/W2059275831","https://openalex.org/W2062146877","https://openalex.org/W2063313351","https://openalex.org/W2063795538","https://openalex.org/W2064926743","https://openalex.org/W2068316701","https://openalex.org/W2068658192","https://openalex.org/W2069712330","https://openalex.org/W2069772414","https://openalex.org/W2071419362","https://openalex.org/W2071659625","https://openalex.org/W2072639954","https://openalex.org/W2075551449","https://openalex.org/W2082123567","https://openalex.org/W2083418848","https://openalex.org/W2084169808","https://openalex.org/W2085538322","https://openalex.org/W2087964979","https://openalex.org/W2089740740","https://openalex.org/W2090100465","https://openalex.org/W2101376317","https://openalex.org/W2103674819","https://openalex.org/W2104786852","https://openalex.org/W2105492226","https://openalex.org/W2108685221","https://openalex.org/W2110918200","https://openalex.org/W2113987915","https://openalex.org/W2119956113","https://openalex.org/W2122691861","https://openalex.org/W2125131856","https://openalex.org/W2125531201","https://openalex.org/W2127475617","https://openalex.org/W2128778916","https://openalex.org/W2131353996","https://openalex.org/W2131538393","https://openalex.org/W2135241016","https://openalex.org/W2136023526","https://openalex.org/W2139080050","https://openalex.org/W2142136726","https://openalex.org/W2144876393","https://openalex.org/W2145377320","https://openalex.org/W2146756020","https://openalex.org/W2154187126","https://openalex.org/W2155192163","https://openalex.org/W2156109180","https://openalex.org/W2156559503","https://openalex.org/W2157224717","https://openalex.org/W2157815098","https://openalex.org/W2160184254","https://openalex.org/W2162012454","https://openalex.org/W2162448899","https://openalex.org/W2165577708","https://openalex.org/W2168803180","https://openalex.org/W2172187031","https://openalex.org/W2180562230","https://openalex.org/W2242332456","https://openalex.org/W2242739039","https://openalex.org/W2272402808","https://openalex.org/W2329727439","https://openalex.org/W2491508685","https://openalex.org/W2752617332","https://openalex.org/W2805449789","https://openalex.org/W2891145393","https://openalex.org/W2891389313","https://openalex.org/W2891965021","https://openalex.org/W2899549220","https://openalex.org/W2903332220","https://openalex.org/W3020559081","https://openalex.org/W3021920771","https://openalex.org/W3121131820","https://openalex.org/W3121319487","https://openalex.org/W3121776795","https://openalex.org/W3121869535","https://openalex.org/W3122207097","https://openalex.org/W3122300128","https://openalex.org/W3122330270","https://openalex.org/W3122351246","https://openalex.org/W3122859634","https://openalex.org/W3122985187","https://openalex.org/W3123091495","https://openalex.org/W3123190011","https://openalex.org/W3123208803","https://openalex.org/W3123413064","https://openalex.org/W3123494828","https://openalex.org/W3123650847","https://openalex.org/W3123730452","https://openalex.org/W3123748565","https://openalex.org/W3123916584","https://openalex.org/W3124379587","https://openalex.org/W3124477224","https://openalex.org/W3124737349","https://openalex.org/W3125362379","https://openalex.org/W3125499115","https://openalex.org/W3125846173","https://openalex.org/W3135490280","https://openalex.org/W7136153405"],"related_works":["https://openalex.org/W1976794387","https://openalex.org/W7099375787","https://openalex.org/W2031534634","https://openalex.org/W2585232508","https://openalex.org/W2000227350","https://openalex.org/W7098150372","https://openalex.org/W2093920054","https://openalex.org/W2005243536","https://openalex.org/W7018114010","https://openalex.org/W2585947484"],"abstract_inverted_index":{"There":[0],"are":[1,140],"two":[2],"competing":[3],"theoretical":[4],"debates":[5],"about":[6],"the":[7,55,72,98,106,156,172,202,242,267,270,285,293,361,400],"impact":[8],"of":[9,74,94,130,136,144,287,295,297,302,326,402],"ownership":[10,28,38,60,75,95,111,125,131,138,150,169,223,250,273,298,307,330,348,362,385,396,407],"concentration":[11,76,132,170,235,244,262,274,308,349,363],"on":[12,59],"organisational":[13],"outcomes,":[14],"namely":[15,117],"efficient-monitoring":[16],"hypothesis":[17],"and":[18,91,122,177,208,248,275,332,344,413],"conflict-of-interest":[19],"(strategic-alignment)":[20],"hypothesis.":[21,365],"New":[22,40,63,163,187,418],"Zealand":[23,41,164,188],"has":[24],"a":[25,152,192,280],"distinctively":[26],"concentrated":[27,37,149,406],"structure.":[29,397],"This":[30,49,65,101,323,387],"raises":[31],"an":[32,43,334],"important":[33],"research":[34,58,66,102],"question:":[35],"Does":[36],"in":[39,62,97,162,186,195,241,309,358,409,417],"perform":[42],"efficient":[44],"monitoring":[45,193,290],"or":[46],"opportunistic":[47],"function?":[48],"question":[50],"remains":[51],"unanswered":[52],"due":[53],"to":[54,79,105,155,226,266,384],"very":[56],"limited":[57],"structure":[61,96,139,224,408],"Zealand.":[64,419],"considers":[67],"three":[68],"specific":[69],"where":[70],"studying":[71],"function":[73],"is":[77,151,311,324,338,356,369,389],"likely":[78],"be":[80],"insightful.":[81],"Three":[82,304],"contexts":[83],"are:":[84],"CEO":[85,158,175,206],"compensation":[86,159,176,207],"scheme,":[87],"corporate":[88,403],"voluntary":[89,255,276,367],"disclosures":[90,231,404],"investor":[92],"perception":[93],"stock":[99,351],"market.":[100],"further":[103],"contributes":[104],"existing":[107],"literature":[108],"by":[109,220],"decomposing":[110],"into":[112,371],"four":[113],"mutually":[114],"exclusive":[115],"groups,":[116],"financial":[118,221,342],"institution-,":[119],"government-,":[120],"management-":[121],"other":[123],"company-controlled":[124],"structures.":[126],"The":[127,142,300],"different":[128],"impacts":[129],"under":[133,405],"each":[134],"type":[135],"controlling":[137],"investigated.":[141],"findings":[143],"Essay":[145,212,303],"One":[146],"reveal":[147],"that":[148,183,217,284,306,376],"significant":[153],"contributor":[154],"poor":[157,203],"pay-for-performance":[160],"relationship":[161,204,271],"listed":[165],"companies.":[166],"However,":[167],"reduced":[168],"promotes":[171],"alignment":[173],"between":[174,205,272],"firm":[178,209,239],"performance.":[179,210],"These":[180],"results":[181,215,301,374],"imply":[182],"large":[184,288],"shareholders":[185],"do":[189],"not":[190],"play":[191],"role":[194],"curbing":[196],"managerial":[197,345],"power;":[198],"rather":[199],"it":[200],"exacerbates":[201],"In":[211,237],"Two,":[213],"regression":[214,373],"show":[216],"companies":[218],"characterised":[219],"institution-controlled":[222],"tend":[225],"make":[227],"significantly":[228,378],"fewer":[229],"(more)":[230],"at":[232],"high":[233,243],"(low)":[234],"levels.":[236],"contrast,":[238],"observations":[240],"group":[245],"with":[246,259,292,314,341,360,394],"government-":[247],"management-controlled":[249,395],"structures":[251],"have":[252],"considerably":[253],"higher":[254],"disclosure":[256,277,368,377],"scores":[257],"compared":[258],"their":[260],"low":[261],"counterparts.":[263],"With":[264],"respect":[265],"linearity":[268],"assumption,":[269],"practices":[278],"unveil":[279],"non-linear":[281],"pattern,":[282],"indicating":[283],"efficiency":[286,416],"shareholders\u2019":[289],"varies":[291],"level":[294],"intensity":[296],"concentration.":[299,386],"demonstrate":[305],"general":[310],"positively":[312],"associated":[313,340],"information":[315,380,411],"asymmetry":[316,381,412],"observed":[317],"around":[318],"annual":[319],"report":[320],"release":[321],"date.":[322],"supportive":[325],"investor-adverse":[327],"selection":[328,336],"towards":[329],"concentration,":[331],"such":[333],"adverse":[335],"problem":[337],"strongly":[339],"institutional":[343],"shareholdings.":[346],"Also,":[347],"decreases":[350],"liquidity,":[352],"so":[353],"no":[354],"result":[355],"found":[357],"line":[359],"liquidity":[364],"When":[366],"taken":[370],"account,":[372],"suggest":[375],"attenuates":[379],"risk":[382],"related":[383],"effect":[388],"particularly":[390],"pronounced":[391],"for":[392],"firms":[393],"Findings":[398],"highlight":[399],"importance":[401],"eliminating":[410],"enhancing":[414],"market":[415]},"counts_by_year":[{"year":2020,"cited_by_count":2},{"year":2019,"cited_by_count":1},{"year":2016,"cited_by_count":2},{"year":2012,"cited_by_count":2}],"updated_date":"2026-11-08T12:12:28.789561","created_date":"2016-06-24T00:00:00"}
