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Does the proxy for shareholders' control make a difference in firm-performance regressions? Evidence from a blockholder system of corporate governance

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  • Miguel Manjon

Abstract

One of the critical determinants of firm performance in corporate governance investigations is the degree of control exercised by large shareholders. This article empirically assesses the use of ultimate-owner ship shares and solutions of voting games (i.e. power indices) as alternative proxies for this control.

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  • Miguel Manjon, 2007. "Does the proxy for shareholders' control make a difference in firm-performance regressions? Evidence from a blockholder system of corporate governance," Applied Economics Letters, Taylor & Francis Journals, vol. 14(6), pages 445-449.
    • Handle: RePEc:taf:apeclt:v:14:y:2007:i:6:p:445-449
    DOI: 10.1080/13504850500426020
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    References listed on IDEAS

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    1. Leech, Dennis, 1987. "Ownership Concentration and the Theory of the Firm: A Simple-Game-Theoretic Approach," Journal of Industrial Economics, Wiley Blackwell, vol. 35(3), pages 225-240, March.
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    6. Cubbin, John S & Leech, Dennis, 1983. "The Effect of Shareholding Dispersion on the Degree of Control in British Companies: Theory and Measurement," Economic Journal, Royal Economic Society, vol. 93(37), pages 351-369, June.
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    2. Husam Aldamen & Keith Duncan & Simone Kelly & Ray McNamara, 2020. "Corporate governance and family firm performance during the Global Financial Crisis," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 60(2), pages 1673-1701, June.
    3. Cristina Boþa-Avram, 2012. "Managerial Ownership, Board Structure And Firm’S Performance: A Review Of Main Findings," CES Working Papers, Centre for European Studies, Alexandru Ioan Cuza University, vol. 4(4), pages 648-656, December.

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