Entre familia y amigos: la elección de la estructura de propiedad corporativa
The document presents an analysis, developed under the framework of conflict theory, which models the choice of ownership structure as the result of a power struggle between the owner of a firm and potential shareholders. The theoretical model suggests that, when the system that protects property rights is inefficient, the choice of keeping the ownership of the firm within the family represents the strategy that provides the owner the highest value when going public.
Volume (Year): 22 (2007)
Issue (Month): 1 ()
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- Ramon Castillo & Stergios Skaperdas, 2003.
"All in the Family or Public? Law and Appropriative Costs as Determinants of Ownership Structure,"
CESifo Working Paper Series
921, CESifo Group Munich.
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"A Survey of Corporate Governance,"
NBER Working Papers
5554, National Bureau of Economic Research, Inc.
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"Crime and Punishment: An Economic Approach,"
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University of Chicago Press, vol. 76, pages 169.
- Hirshleifer, Jack, 1995. "Anarchy and Its Breakdown," Journal of Political Economy, University of Chicago Press, vol. 103(1), pages 26-52, February.
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- Andrei Shleifer & Daniel Wolfenson, 2000.
"Investor Protection and Equity Markets,"
Harvard Institute of Economic Research Working Papers
1906, Harvard - Institute of Economic Research.
- Marco Pagano & Ailsa Röell, 1998. "The Choice Of Stock Ownership Structure: Agency Costs, Monitoring, And The Decision To Go Public," The Quarterly Journal of Economics, MIT Press, vol. 113(1), pages 187-225, February.
- repec:cup:cbooks:9780521560634 is not listed on IDEAS
- Grossman, Herschel I & Kim, Minseong, 1995. "Swords or Plowshares? A Theory of the Security of Claims to Property," Journal of Political Economy, University of Chicago Press, vol. 103(6), pages 1275-88, December.
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