An Empirical Comparison of the Performance of Classical Power Indices
This paper assesses the indices against a set of reasonable criteria in terms of shareholder voting power and the control of the corporation in a large cross section of British companies. Each company is a separate voting body and there is much variation in the distribution of voting shares among them. Moreover reasonable criteria exist against which to judge the indices. New algorithms for the Shapley-Shubik and Banzhaf indices are applied to detailed data on beneficial ownership of 444 large UK companies without majority control.
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Volume (Year): 50 (2002)
Issue (Month): 1 (03)
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References listed on IDEAS
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- Pohjola, Matti, 1988. " Concentration of Shareholder Voting Power in Finnish Industrial Companies," Scandinavian Journal of Economics, Wiley Blackwell, vol. 90(2), pages 245-253.
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- Rafael La Porta & Florencio Lopez-de-Silane & Andrei Shleifer, 1998. "Corporate Ownership Around the World," NBER Working Papers 6625, National Bureau of Economic Research, Inc.
- Dennis Leech, 1988. "The Relationship Between Shareholding Concentration and Shareholder Voting Power in British Companies: A Study of the Application of Power Indices for Simple Games," Management Science, INFORMS, vol. 34(4), pages 509-527, April.
- Leech, Dennis, 1985. "The relationshiop between Shareholding Concentration and Shareholder Voting Power in British Companies : A study of the Application of Power Indices for Simple Games," The Warwick Economics Research Paper Series (TWERPS) 267, University of Warwick, Department of Economics.
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