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Blockholder ownership: Effects on firm value in market and control based governance systems

  • Thomsen, Steen
  • Pedersen, Torben
  • Kvist, Hans Kurt
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    File URL: http://www.sciencedirect.com/science/article/pii/S0929-1199(05)00044-1
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    Article provided by Elsevier in its journal Journal of Corporate Finance.

    Volume (Year): 12 (2006)
    Issue (Month): 2 (January)
    Pages: 246-269

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    Handle: RePEc:eee:corfin:v:12:y:2006:i:2:p:246-269
    Contact details of provider: Web page: http://www.elsevier.com/locate/jcorpfin

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    13. Jensen, Michael C, 1986. "Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers," American Economic Review, American Economic Association, vol. 76(2), pages 323-29, May.
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    23. Barclay, Michael J. & Holderness, Clifford G., 1989. "Private benefits from control of public corporations," Journal of Financial Economics, Elsevier, vol. 25(2), pages 371-395, December.
    24. Slovin, Myron B & Sushka, Marie E, 1993. " Ownership Concentration, Corporate Control Activity, and Firm Value: Evidence from the Death of Inside Blockholders," Journal of Finance, American Finance Association, vol. 48(4), pages 1293-1321, September.
    25. Denis, Diane K. & McConnell, John J., 2003. "International Corporate Governance," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 38(01), pages 1-36, March.
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    28. Cho, Myeong-Hyeon, 1998. "Ownership structure, investment, and the corporate value: an empirical analysis," Journal of Financial Economics, Elsevier, vol. 47(1), pages 103-121, January.
    29. Richard J. Zeckhauser & John Pound, 1990. "Are Large Shareholders Effective Monitors? An Investigation of Share Ownership and Corporate Performance," NBER Chapters, in: Asymmetric Information, Corporate Finance, and Investment, pages 149-180 National Bureau of Economic Research, Inc.
    30. Torben Pedersen & Steen Thomsen, 1999. "Economic and Systemic Explanations of Ownership Concentration among Europe's Largest Companies," International Journal of the Economics of Business, Taylor & Francis Journals, vol. 6(3), pages 367-381.
    31. Clifford G. Holderness, 2003. "A survey of blockholders and corporate control," Economic Policy Review, Federal Reserve Bank of New York, issue Apr, pages 51-64.
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    39. Loderer, Claudio & Martin, Kenneth, 1997. "Executive stock ownership and performance Tracking faint traces," Journal of Financial Economics, Elsevier, vol. 45(2), pages 223-255, August.
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    41. Song, Moon H. & Walkling, Ralph A., 1993. "The Impact of Managerial Ownership on Acquisition Attempts and Target Shareholder Wealth," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 28(04), pages 439-457, December.
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