Notice of RetractionResearch on the relationship between asset structure, managerial ownership and firm value

Notice of Retraction

After careful and considered review of the content of this paper by a duly constituted expert committee, this paper has been found to be in violation of IEEE´s Publication Principles.

We hereby retract the content of this paper. Reasonable effort should be made to remove all past references to this paper.

The presenting author of this paper has the option to appeal this decision by contacting TPII@ieee.org.

On the basis of principal-agent model and production function, we derivate solution method of productivity parameters by Shareholders maximize expected total surplus. Using the productivity parameters of total assets and managerial ownership, we research the relationship between asset structure, managerial ownership and firm value. In our sample of 745 firm-year data in 1999–2006, we find that the productivity parameter of total assets much more than these of managerial ownership. The asset structure has significant effect on firm value. The relation between Q and managerial ownership is “U” shape, not an “inverted-U”. Therefore, we can conclude that asset structure and managerial ownership can affect productivity. Firm value is a function of asset structure and managerial ownership.