Control Premiums and the Effectiveness of Corporate Governance Systems
AbstractThis article summarizes the findings of the authors' study, published recently in the Journal of Finance, that use control premiums paid in large block sales to assess the quality of corporate governance systems. The authors report significant variation in such premiums, with countries like the U.S. and U.K. showing premiums of less than 10% while premiums for countries like Brazil running in excess of 60%. 2004 Morgan Stanley.
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Bibliographic InfoArticle provided by Morgan Stanley in its journal Journal of Applied Corporate Finance.
Volume (Year): 16 (2004)
Issue (Month): 2-3 ()
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Web page: http://www.blackwellpublishing.com/journal.asp?ref=1078-1196
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