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The Rise and Fall of the Widely Held Firm: A History of Corporate Ownership in Canada

In: A History of Corporate Governance around the World: Family Business Groups to Professional Managers

  • Randall Morck
  • Michael Percy
  • Gloria Tian
  • Bernard Yeung

A panel of corporate ownership data, stretching back to 1902, shows that the Canadian corporate sector began the century with a predominance of large pyramidal corporate groups controlled by wealthy families or individuals. By mid-century, widely held firms predominated. But, from the 1970s on, pyramidal groups controlled by wealthy families and individuals resurge, restoring a situation similar to that a century earlier. Institutional factors underlying this resurgence are shown to have antecedents deep in the country's colonial past.

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This chapter was published in:
  • Randall K. Morck, 2005. "A History of Corporate Governance around the World: Family Business Groups to Professional Managers," NBER Books, National Bureau of Economic Research, Inc, number morc05-1, September.
  • This item is provided by National Bureau of Economic Research, Inc in its series NBER Chapters with number 10268.
    Handle: RePEc:nbr:nberch:10268
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