Strategic Ownership Structure and the Cost of Debt

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Ownership concentration and corporate performance from a dynamic perspective: Does national governance quality matter? (2015, background): “In support, Aslan and Kumar (2012) argue that national governance quality has strong effects on the agency–principal conflicts at firm-level.”
Ownership of Corporations (2016, background): “…(Filatotchev et al., 2011), resulting in agency costs such as low asset utilization (Ang, Cole, & Lin, 2000), higher use and cost of debt (Aslan & Kumar, 2012), substitution of capital for pursing expansion and investment opportunities (Schulze, Lubatkin, & Dino, 2003), and lower levels…”