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Citations for "The Choice Of Stock Ownership Structure: Agency Costs, Monitoring, And The Decision To Go Public"

by Marco Pagano & Ailsa Röell

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  1. Helwege, Jean & Packer, Frank, 2009. "Private matters," Journal of Financial Intermediation, Elsevier, vol. 18(3), pages 362-383, July.
  2. Maug, Ernst, 2002. "Insider trading legislation and corporate governance," European Economic Review, Elsevier, vol. 46(9), pages 1569-1597, October.
  3. repec:dgr:uvatin:2006011 is not listed on IDEAS
  4. María José Casasola & Josep A. Tribó, 2004. "Banks As Blockholders," Business Economics Working Papers wb040101, Universidad Carlos III, Departamento de Economía de la Empresa.
  5. Bruno Parigi & Loriana Pelizzon, 2005. "Diversification and ownership concentration," "Marco Fanno" Working Papers 0005, Dipartimento di Scienze Economiche "Marco Fanno".
  6. Bloch, Francis & Hege, Ulrich, 2003. "Multiple Shareholders and Control Contests," MPRA Paper 42286, University Library of Munich, Germany.
  7. Luc Laeven & Ross Levine, 2007. "Complex Ownership Structures and Corporate Valuations," IMF Working Papers 07/140, International Monetary Fund.
  8. Dhillon, Amrita & Rossetto, Silvia, 2009. "Corporate Control and Multiple Large Shareholders," The Warwick Economics Research Paper Series (TWERPS) 891, University of Warwick, Department of Economics.
  9. Jens Köke, 2002. "Dynamics in ownership and firm survival: Evidence from corporate Germany," MEA discussion paper series 02013, Munich Center for the Economics of Aging (MEA) at the Max Planck Institute for Social Law and Social Policy.
  10. Carvalhal, Andre, 2012. "Do shareholder agreements affect market valuation?," Journal of Corporate Finance, Elsevier, vol. 18(4), pages 919-933.
  11. Burkart, Mike & Panunzi, Fausto, 2001. "Agency Conflicts, Ownership Concentration, and Legal Shareholder Protection," CEPR Discussion Papers 2708, C.E.P.R. Discussion Papers.
  12. Marra, T.A. & Suijs, J.P.M., 2000. "Going-Public and the Influence of Disclosure Environment," Discussion Paper 2000-15, Tilburg University, Center for Economic Research.
  13. Ljungqvist, Alexander & Boehmer, Ekkehart, 2004. "On the decision to go public: Evidence from privately-held firms," Discussion Paper Series 1: Economic Studies 2004,16, Deutsche Bundesbank, Research Centre.
  14. Volpin, Paolo, 2002. "Governance with Poor Investor Protection: Evidence from Top Executive Turnover in Italy," CEPR Discussion Papers 3229, C.E.P.R. Discussion Papers.
  15. Marco Pagano & Ailsa A. Roell & Joseph Zechner, 1999. "The Geography of Equity Listing; Why Do Companies List Abroad?," CSEF Working Papers 28, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy, revised 01 Sep 2001.
  16. Carletti, Elena, 2004. "The structure of bank relationships, endogenous monitoring, and loan rates," Journal of Financial Intermediation, Elsevier, vol. 13(1), pages 58-86, January.
  17. Malika HAMADI, 2002. "Ownership Strucure ad the Performance of Belgian Listed Firms," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) 2002015, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
  18. Grosfeld, Irena, 2009. "Large shareholders and firm value: Are high-tech firms different?," Economic Systems, Elsevier, vol. 33(3), pages 259-277, September.
  19. Andres Almazan & Javier Suarez & Sheridan Titman, 2007. "Firms' Stakeholders and the Costs of Transparency," NBER Working Papers 13647, National Bureau of Economic Research, Inc.
  20. Boot, Arnoud W A & Gopalan, Radhakrishnan & Thakor, Anjan, 2004. "Go Public or Stay Private: A Theory of Entrepreneurial Choice," CEPR Discussion Papers 4219, C.E.P.R. Discussion Papers.
  21. Francesc Trillas, 2004. "The structure of corporate ownership in privatized utilities," Investigaciones Economicas, Fundación SEPI, vol. 28(2), pages 257-284, May.
  22. Paligorova, Teodora & Xu, Zhaoxia, 2012. "Complex ownership and capital structure," Journal of Corporate Finance, Elsevier, vol. 18(4), pages 701-716.
  23. Mike Burkart & Fausto Panunzi & Andrei Shleifer, 2003. "Family Firms," Journal of Finance, American Finance Association, vol. 58(5), pages 2167-2202, October.
  24. Khalil, Fahad & Martimort, David & Parigi, Bruno, 2007. "Monitoring a common agent: Implications for financial contracting," Journal of Economic Theory, Elsevier, vol. 135(1), pages 35-67, July.
  25. Jeremy Edwards & Alfons Weichenrieder, 1999. "Ownership Concentration and Share Valuation: Evidence from Germany," CESifo Working Paper Series 193, CESifo Group Munich.
  26. Albuquerque, Rui & Schroth, Enrique, 2009. "Quantifying private benefits of control from a structural model of block trades," CEPR Discussion Papers 7358, C.E.P.R. Discussion Papers.
  27. Buchanan, Bonnie & Yang, Tina, 2005. "The benefits and costs of controlling shareholders: the rise and fall of Parmalat," Research in International Business and Finance, Elsevier, vol. 19(1), pages 27-52, March.
  28. Alex Edmans, 2013. "Blockholders and Corporate Governance," NBER Working Papers 19573, National Bureau of Economic Research, Inc.
  29. Brunello, Giorgio & Graziano, Clara & Parigi, Bruno, 2000. "Ownership or Performance: What Determines Board of Directors' Turnover in Italy?," IZA Discussion Papers 105, Institute for the Study of Labor (IZA).
  30. Ramon Castillo & Stergios Skaperdas, 2005. "All in the family or public? Law and appropriative costs as determinants of ownership structure," Economics of Governance, Springer, vol. 6(2), pages 93-104, 07.
  31. Haan, Marco A. & Riyanto, Yohanes, 2006. "The effects of takeover threats on shareholders and firm value," Journal of Economic Behavior & Organization, Elsevier, vol. 59(1), pages 45-68, January.
  32. Berkman, Henk & Cole, Rebel A. & Fu, Lawrence J., 2009. "Expropriation through loan guarantees to related parties: Evidence from China," Journal of Banking & Finance, Elsevier, vol. 33(1), pages 141-156, January.
  33. Narjess Boubakri & Jean-Claude Cosset & Omrance Guedhami, 2001. "Liberalization, Corporate Governance, and the Performance of Newly Privatized Firms," William Davidson Institute Working Papers Series 419, William Davidson Institute at the University of Michigan.
  34. Castaneda, Gonzalo, 2006. "Economic growth and concentrated ownership in stock markets," Journal of Economic Behavior & Organization, Elsevier, vol. 59(2), pages 249-286, February.
  35. Cheng, Minying & Lin, Bingxuan & Wei, Minghai, 2013. "How does the relationship between multiple large shareholders affect corporate valuations? Evidence from China," Journal of Economics and Business, Elsevier, vol. 70(C), pages 43-70.
  36. Sacristán-Navarro, María & Gómez-Ansón, Silvia & Cabeza-García, Laura, 2011. "Large shareholders' combinations in family firms: Prevalence and performance effects," Journal of Family Business Strategy, Elsevier, vol. 2(2), pages 101-112, June.
  37. Utrero-Gonzalez, Natalia, 2007. "Banking regulation, institutional framework and capital structure: International evidence from industry data," The Quarterly Review of Economics and Finance, Elsevier, vol. 47(4), pages 481-506, September.
  38. Trojanowski, Grzegorz, 2008. "Equity block transfers in transition economies: Evidence from Poland," Economic Systems, Elsevier, vol. 32(3), pages 217-238, September.
  39. D'Souza, Juliet & Megginson, William & Nash, Robert, 2005. "Effect of institutional and firm-specific characteristics on post-privatization performance: Evidence from developed countries," Journal of Corporate Finance, Elsevier, vol. 11(5), pages 747-766, October.
  40. Belot, François, 2008. "Shareholder agreements and firm value: Evidence from French listed firms," Economics Papers from University Paris Dauphine 123456789/3031, Paris Dauphine University.
  41. Benveniste, Lawrence M. & Busaba, Walid Y. & Wilhelm, William Jr., 2002. "Information Externalities and the Role of Underwriters in Primary Equity Markets," Journal of Financial Intermediation, Elsevier, vol. 11(1), pages 61-86, January.
  42. Sergio Destefanis & Vania Sena, 2004. "Patterns Of Corporate Governance And Technical Efficiency In Italian Manufacturing," Finance 0405026, EconWPA.
  43. Gutiérrez, Luis H. & Pombo, Carlos, 2009. "Corporate ownership and control contestability in emerging markets: The case of Colombia," Journal of Economics and Business, Elsevier, vol. 61(2), pages 112-139.
  44. Kato, Takao & Long, Cheryl, 2006. "CEO Turnover, Firm Performance and Enterprise Reform in China: Evidence from New Micro Data," IZA Discussion Papers 1914, Institute for the Study of Labor (IZA).
  45. repec:hal:cepnwp:hal-00842582 is not listed on IDEAS
  46. Nigel Driffield & Vidya Mahambare & Sarmistha Pal, 2005. "How Ownership Structure Affects Capital Structure and Firm Performance? Recent Evidence from East Asia," Finance 0505012, EconWPA.
  47. claudio Michelacci & Fabiano Schivardi, 2008. "Does Idiosyncratic Business Risk Matter?," EIEF Working Papers Series 0813, Einaudi Institute for Economics and Finance (EIEF), revised Jul 2008.
  48. Ferreira, Daniel & Manso, Gustavo & Silva, André C., 2010. "Incentives to Innovate and the Decision to Go Public or Private," CEPR Discussion Papers 7750, C.E.P.R. Discussion Papers.
  49. Eije, J.H. von & Witte, M.C. de & Zwaan, A.H. van der, 2000. "IPO-related organizational change and long-term performance," Research Report 00A19, University of Groningen, Research Institute SOM (Systems, Organisations and Management).
  50. Piruna Polsiri & Kingkarn Sookhanaphibarn, 2009. "Corporate Distress Prediction Models Using Governance and Financial Variables: Evidence from Thai Listed Firms during the East Asian Economic Crisis," Journal of Economics and Management, College of Business, Feng Chia University, Taiwan, vol. 5(2), pages 273-304, July.
  51. Sergey Stepanov, 2009. "Shareholder Protection and Outside Blockholders: Substitutes or Complements?," Working Papers w0133, Center for Economic and Financial Research (CEFIR).
  52. Najah Attig & Sadok El Ghoul & Omrane Guedhami & Sorin Rizeanu, 2013. "The governance role of multiple large shareholders: evidence from the valuation of cash holdings," Journal of Management and Governance, Springer, vol. 17(2), pages 419-451, May.
  53. Thomas J. Chemmanur & Shan He & Debarshi K. Nandy, 2010. "The Going-Public Decision and the Product Market," Review of Financial Studies, Society for Financial Studies, vol. 23(5), pages 1855-1908.
  54. Heiss, Florian & Köke, Jens, 2001. "Dynamics in ownership and firm survival: evidence from corporate Germany," ZEW Discussion Papers 01-63, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
  55. Jean Helwege & Frank Packer, 2008. "Private matters," BIS Working Papers 266, Bank for International Settlements.
  56. Bargeron, Leonce L., 2012. "Do Shareholder Tender Agreements inform or expropriate shareholders?," Journal of Corporate Finance, Elsevier, vol. 18(2), pages 373-388.
  57. Bennedsen, Morten & Wolfenzon, Daniel, 2000. "The balance of power in closely held corporations," Journal of Financial Economics, Elsevier, vol. 58(1-2), pages 113-139.
  58. Scholz, Julia, 2008. "Auswirkungen vertikaler Kollusionsprobleme auf die vertragliche Ausgestaltung von Kreditverkäufen," Discussion Papers in Business Administration 4581, University of Munich, Munich School of Management.
  59. Goergen, Marc & Manjon, Miguel C. & Renneboog, Luc, 2008. "Recent developments in German corporate governance," International Review of Law and Economics, Elsevier, vol. 28(3), pages 175-193, September.
  60. de La Bruslerie, Hubert & Latrous, Imen, 2012. "Ownership structure and debt leverage: Empirical test of a trade-off hypothesis on French firms," Journal of Multinational Financial Management, Elsevier, vol. 22(4), pages 111-130.
  61. Ellingsen, Tore & Rydqvist, Kristian, 1997. "The Stock Market as a Screening Device and the Decision to Go Public," Working Paper Series in Economics and Finance 174, Stockholm School of Economics.
  62. Maury, Benjamin & Pajuste, Anete, 2005. "Multiple large shareholders and firm value," Journal of Banking & Finance, Elsevier, vol. 29(7), pages 1813-1834, July.
  63. Boubaker, Sabri & Nguyen, Pascal & Rouatbi, Wael, 2012. "Large shareholders and firm risk-taking behavior," MPRA Paper 39005, University Library of Munich, Germany.
  64. Angelo Baglioni, 2008. "Shareholders' agreements and voting power. Evidence from Italian listed firms," DISCE - Quaderni dell'Istituto di Economia e Finanza ief0081, Università Cattolica del Sacro Cuore, Dipartimenti e Istituti di Scienze Economiche (DISCE).
  65. Dahya, Jay & Dimitrov, Orlin & McConnell, John J., 2008. "Dominant shareholders, corporate boards, and corporate value: A cross-country analysis," Journal of Financial Economics, Elsevier, vol. 87(1), pages 73-100, January.
  66. Boot, Arnoud W A & Gopalan, Radhakrishnan & Thakor, Anjan, 2006. "Market Liquidity, Investor Participation and Managerial Autonomy: Why Do Firms Go Private?," CEPR Discussion Papers 5510, C.E.P.R. Discussion Papers.
  67. Ruiz-Mallorquí, María Victoria & Santana-Martín, Domingo J., 2011. "Dominant institutional owners and firm value," Journal of Banking & Finance, Elsevier, vol. 35(1), pages 118-129, January.
  68. Naomi R. Lamoreaux & Jean-Laurent Rosenthal, 2006. "Contractual Tradeoffs and SMEs Choice of Organizational Form, A View from U.S. and French History, 1830-2000," NBER Working Papers 12455, National Bureau of Economic Research, Inc.
  69. Armando Gomes, . "Multiple Large Shareholders in Corporate Governance," Rodney L. White Center for Financial Research Working Papers 05-99, Wharton School Rodney L. White Center for Financial Research.
  70. María Gutiérrez & Josep A. Tribo, 2004. "Private benefits extraction in closely-held corporations: The case for multiple large shareholders," Business Economics Working Papers wb044315, Universidad Carlos III, Departamento de Economía de la Empresa.
  71. Roosenboom, Peter & van der Goot, Tjalling, 2005. "The effect of ownership and control on market valuation: Evidence from initial public offerings in The Netherlands," International Review of Financial Analysis, Elsevier, vol. 14(1), pages 43-59.
  72. Laetitia Lepetit & Amine Tarazi & Nadia Zedek, 2012. "Bank Regulatory Capital Adjustment and Ultimate Ownership Structure: Evidence from European Commercial Banks," Working Papers hal-00918577, HAL.
  73. Yin, Xiangkang, 2008. "Going-public vs. private sales: A two-tiered agency approach," International Review of Financial Analysis, Elsevier, vol. 17(3), pages 523-538, June.
  74. Börsch-Supan, Axel & Köke, Jens, 2000. "An applied econometricians' view of empirical corporate governance studies," ZEW Discussion Papers 00-17, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
  75. Ayyagari, Meghana, 2004. "Does cross-listing lead to functional convergence? Empirical evidence," Policy Research Working Paper Series 3264, The World Bank.
  76. Lucian Arye Bebchuk & Luigi Zingales, 1996. "Corporate Ownership Structures: Private versus Social Optimality," NBER Working Papers 5584, National Bureau of Economic Research, Inc.
  77. Chen, Yan, 2007. "中小投资者保护、股权结构与公司价值
    [Protection of Minority Shareholders, Ownership Structure and Corporate Valuation]
    ," MPRA Paper 12427, University Library of Munich, Germany, revised Jun 2008.
  78. Heitor Almeida & Daniel Wolfenzon, 2005. "A Theory of Pyramidal Ownership and Family Business Groups," NBER Working Papers 11368, National Bureau of Economic Research, Inc.
  79. Chemmanur, Thomas J. & Jiao, Yawen, 2012. "Dual class IPOs: A theoretical analysis," Journal of Banking & Finance, Elsevier, vol. 36(1), pages 305-319.
  80. Gill, Andrej & Visnjic, Nikolai, 2013. "Insight private equity," SAFE Working Paper Series 23, Research Center SAFE - Sustainable Architecture for Finance in Europe, Goethe University Frankfurt.
  81. Mayur, Manas & Kumar, Manoj, 2006. "An Empirical Investigation of Going Public Decision of Indian Companies," MPRA Paper 1801, University Library of Munich, Germany.
  82. Sergey Stepanov, 2010. "Shareholder access to manager-biased courts and the monitoring/litigation trade-off," RAND Journal of Economics, RAND Corporation, vol. 41(2), pages 270-300.
  83. Dong, Liping & Uchida, Konari & Hou, Xiaohong, 2014. "Block trade targets in China," Journal of Corporate Finance, Elsevier, vol. 25(C), pages 188-201.
  84. Igor Filatotchev & Yung-Chih Lien & Jenifer Piesse, 2005. "Corporate Governance and Performance in Publicly Listed, Family-Controlled Firms: Evidence from Taiwan," Asia Pacific Journal of Management, Springer, vol. 22(3), pages 257-283, September.
  85. Fahad Khalil & Doyoung Kim & Jacques Lawarrée, 2013. "Contracts Offered by Bureaucrats," CESifo Working Paper Series 4511, CESifo Group Munich.
  86. Pascual Berrone & Jordi Surroca & Josep A. Tribó, 2005. "The Influence of Blockholders on R&D Investments Intensity: Evidence From Spain," Business Economics Working Papers wb054611, Universidad Carlos III, Departamento de Economía de la Empresa.
  87. Ramón A. Castillo Ponce, 2007. "Entre familia y amigos: la elección de la estructura de propiedad corporativa," Estudios Económicos, El Colegio de México, Centro de Estudios Económicos, vol. 22(1), pages 3-18.
  88. repec:hal:wpaper:hal-00842582 is not listed on IDEAS
  89. Erik Lehmann & Juergen Weigand, 2000. "Does the Governed Corporation Perform Better? Governance Structures and Corporate Performance in Germany," CoFE Discussion Paper 00-05, Center of Finance and Econometrics, University of Konstanz.
  90. Brisley, Neil & Bris, Arturo & Cabolis, Christos, 2011. "A theory of optimal expropriation, mergers and industry competition," Journal of Banking & Finance, Elsevier, vol. 35(4), pages 955-965, April.
  91. Ferreira, Daniel & Ornelas, Emanuel & Turner, John L., 2007. "Unbundling Ownership and Control," CEPR Discussion Papers 6257, C.E.P.R. Discussion Papers.
  92. repec:dgr:uvatin:2003096 is not listed on IDEAS
  93. Jean Helwege & Nellie Liang, 2003. "Initial public offerings in hot and cold markets," Finance and Economics Discussion Series 2003-04, Board of Governors of the Federal Reserve System (U.S.).
  94. Cumming, Douglas & Johan, Sofia Atiqah binti, 2008. "Preplanned exit strategies in venture capital," European Economic Review, Elsevier, vol. 52(7), pages 1209-1241, October.
  95. Sabri Boubaker & Alexis Cellier & Wael Rouatbi, 2014. "The sources of shareholder wealth gains from going private transactions: The role of controlling shareholders," Working Papers 2014-186, Department of Research, Ipag Business School.
  96. Kasbi, Salma, 2009. "Ownership Concentration and Capital Structure Adjustments," Economics Papers from University Paris Dauphine 123456789/3862, Paris Dauphine University.
  97. Hope, Ole-Kristian & Langli, John Christian & Thomas, Wayne B., 2012. "Agency conflicts and auditing in private firms," Accounting, Organizations and Society, Elsevier, vol. 37(7), pages 500-517.
  98. Bajo, Emanuele & Barbi, Massimiliano & Bigelli, Marco & Hillier, David, 2013. "The role of institutional investors in public-to-private transactions," Journal of Banking & Finance, Elsevier, vol. 37(11), pages 4327-4336.
  99. Nguyen, Pascal & Rahman, Nahid & Zhao, Ruoyun, 2013. "Ownership structure and divestiture decisions: Evidence from Australian firms," International Review of Financial Analysis, Elsevier, vol. 30(C), pages 170-181.