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Volume :14 Issue : 2 2007      Add To Cart                                                                    Download

Ownership Structure and Its Relationship with Capital Structure: An Empirical Study on the Companies Listed in the Kuwait Stock Exchange

Auther : Talla M. Al-Deehani
Khaled M. Al-Saad

This paper investigates the relationship between the ownership structure and the capital structure of the companies listed in the Kuwait Stock Exchange. It provides evidence for a positives relationship between the amount of debt and the amount of control rights relative to the amount of cash flow rights. A positive relationship between the amount of debt and the existence of a manager from a controlling family has also been found. Other positive relationships between the amount of debt and the amount of controlling rights, and cash flow rights and a family concentrated ownership were also found. The study warns of the possible damage that non-controlling investors with smaller ownership may get in the case of a financial crisis such as the one witnessed by the Asian markets in 1997.

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Nov 19, 2019

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