Threshold Effect of Management Ownership on the Quality of the Company: With the help of the PSTR model

Zaynab Khanali Zadeh¹

1) - Graduate Student of Accounting - Higher Education Institution of Science and Technology Shams Tabriz -

Publication : اولین کنفرانس ملی نقش حسابداری، اقتصاد و مدیریت در توسعه پایدار با تاکید بر اقتصاد مقاومتی (aem2017.ir)
Abstract :
Previous studies show conflicting results about the impact of ownership ownership on the value of the company. This contradiction in the results can be due to the nonlinear effect of corporate ownership ownership. Accordingly, this study uses the PSTR model of regression model ) As one of the most prominent models of dietary change. It examines the threshold effect of management ownership on the value of companies admitted to the Tehran Stock Exchange during the period from 2010 to 1394. The results of the linearity test strongly suggest the existence of a nonlinear relationship between the studied variables and the inclusion of a transfer function with a threshold parameter representing a two-mode model for specifying a nonlinear relationship between the variables under study The results show that the threshold is 71.24%, and the slope parameter is 2.55. In the first regime, ownership of the management has an effect on the value of the firm (confirming the hypothesis of convergence of interests) that after passing the threshold Threshold, in the second regime, this effect is negative (confirming the hyphenation of barricading). Therefore, between management ownership and the value of a company, a relationship is found in the form U Confirmed.
Keywords : management ownership company quality limit moderate pillar transfer regression model (pstr)