Some studies have shown that managers concentrate large fractions of their wealth in the equity of their own firm. In this paper we use a unique dataset and investigate how Swedish owner-managers invest remaining wealth conditional on a major investment in their own firm. We find no[JR1] evidence that owner-managers seek diversification benefits when they invest remaining wealth. Instead some owner-managers invest remaining wealth in the industry where they already have a substantial capital investment. We conclude that some owner-managers seek to exploit their industry-specific superior information when they invest wealth not tied up in their own firms. / <p>QC 20130515</p>
| Identifer | oai:union.ndltd.org:UPSALLA1/oai:DiVA.org:kth-122243 |
| Date | January 2006 |
| Creators | Råsbrant, Jonas, Holmén, Martin |
| Publisher | KTH, Industriell dynamik (Stängd 20130101), Göteborgs universitet |
| Source Sets | DiVA Archive at Upsalla University |
| Language | English |
| Detected Language | English |
| Type | Article in journal, info:eu-repo/semantics/article, text |
| Format | application/pdf |
| Rights | info:eu-repo/semantics/openAccess |
| Relation | Corporate Ownership & Control, 1727-9232, 2006, 4:1, s. 37-48 |
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