Financial management among selected automotive leaders in the EU: Essential techniques to ...

@article{67502,
   author = {Heryán, Tomáš and Růčková, Petra and Cerulli, Giovanni},
   doi = {http://dx.doi.org/10.21203/rs.3.rs-2439877/v1},
   keywords = {Financial management; Ownership structure; EU automotive industry; Dynamic panel},
   language = {eng},
   journal = {Research Square preprints},
   title = {Financial management among selected automotive leaders in the EU: Essential techniques to investigate the structure of moments while using the GMM with dynamic panel data},
   url = {https://doi.org/10.21203/rs.3.rs-2439877/v1},
   year = {2023}
}

TY  - JFULL
ID  - 67502
AU  - Heryán, Tomáš - Růčková, Petra - Cerulli, Giovanni
PY  - 2023
TI  - Financial management among selected automotive leaders in the EU: Essential techniques to investigate the structure of moments while using the GMM with dynamic panel data
JF  - Research Square preprints
SP  - 1-16
EP  - 1-16
KW  - Financial management
KW  - Ownership structure
KW  - EU automotive industry
KW  - Dynamic panel
UR  - https://doi.org/10.21203/rs.3.rs-2439877/v1
N2  - Despite interest in financial management, few studies have considered paying attention to the ownership structure among stockholders. Two alternative approaches related to the ownership structure are generally regarded as the leading cause of different management behaviours. First, managers should be less controlled in the case of less concentrated ownership with many owners, and thus could be more willing to not cooperate in the interests of owners. Second, vice versa, the less concentrated ownership structure causes the more pronounced control of management, and hence the pressure on its functioning. The results of this paper have proven the second approach in one country and just suggested the first among two different countries belonging to the EU leaders within the automotive industry. Furthermore, this study reveals that, without deploying techniques, subsequently introduced a modified version of GMM estimators with panel data by providing an implementation using Stata statistical software. Otherwise, these particular econometric tools to analyse a dynamic panel can often give false significant estimates.
ER  - 

HERYÁN, Tomáš, Petra RŮČKOVÁ a Giovanni CERULLI. Financial management among selected automotive leaders in the EU: Essential techniques to investigate the structure of moments while using the GMM with dynamic panel data. \textit{Research Square preprints}. 2023, s.~1-16. Dostupné z: https://dx.doi.org/10.21203/rs.3.rs-2439877/v1.