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DETERMINANTS  OF THE MANAGERIAL BEHAVIOR OF AGENCY COST AND ITS INFLUENTIAL EXTENT ON PERFORMANCE: A STUDY IN IRAQ

Prof. Dr. Moayad Mohammad Ali Fadhl Alfadhl
College of Administration and Economics, Accounting Department, Al-Qadisiya University, Iraq
Tariq Tawfeeq Yousif Alabdullah
College of Administration and Economics, Accounting Department, University of Basrah, Iraq.

 

ABSTRACT

This study aims to  investigate  the relationship  between some  determinants  of  managerial behavior and agency cost from one hand, and the impact of this relationship on firm performance from the other. In order for this study to achieve  its  objective, the researchers  examine  three variables representing  the  determinants  of managerial behavior, namely: managerial ownership, information  asymmetry,  and percentage  of firm debts.  The approach uses data of a sample of 27 firms distributed to three economic sectors: banks, industry and services. The findingsin relation to ownership variable  confirm  there is a  significant and  non-linear  correlation  between managerial ownership and agency cost of  ownership; and  such  relationship is  affected by firm performance.  As for  the  other two  variables, the findings show there is no relationship between them and agency  cost and  no impact  of performance on this relationship.


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