The puzzle of corporate control
In this research paper the main forces that influence different kinds of corporate control of the largest firms by country are evaluated. Firms controlled by individuals, Government, miscellaneous investors or widely held, exist under different circumstances. While firms controlled by individuals are small, proliferate on civil-law based countries with low levels of economic freedom, firms controlled by Governments multiply under low standards of disclosure, undeveloped financial markets and non catholic environments. On the other hand, the presence of miscellaneous investors is more frequent when stocks are glamorous and small wherein the smaller shareholder can easily use their limited resources and monitoring the management/larger shareholder. Finally, widely held firms are large and are stimulated by an economic freedom behavior.
|Date of creation:||2012|
|Date of revision:||2012|
|Publication status:||Published in International Research Journal of Finance and Economics 99 (2012): pp. 53-63|
|Contact details of provider:|| Postal: Ludwigstraße 33, D-80539 Munich, Germany|
Web page: https://mpra.ub.uni-muenchen.de
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- Rafael La Porta & Florencio Lopez-De-Silanes & Andrei Shleifer, 1999.
"Corporate Ownership Around the World,"
Journal of Finance,
American Finance Association, vol. 54(2), pages 471-517, April.
- 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.
- Rafael La Porta & Florencio Lopez-de-Silanes & Andrei Shleifer, 1998. "Corporate Ownership Around the World," Harvard Institute of Economic Research Working Papers 1840, Harvard - Institute of Economic Research.
- Alves, Paulo, 2010. "Corporate Ownership: Some International Evidence," MPRA Paper 51380, University Library of Munich, Germany.
- Brioschi, Francesco & Buzzacchi, Luigi & Colombo, Massimo G., 1989. "Risk capital financing and the separation of ownership and control in business groups," Journal of Banking & Finance, Elsevier, vol. 13(4-5), pages 747-772, September.
- repec:hrv:faseco:30747162 is not listed on IDEAS
- Alves, Paulo & Ferreira, Miguel, 2008. "Who Owns the Largest Firms Around the World?," MPRA Paper 52355, University Library of Munich, Germany. Full references (including those not matched with items on IDEAS)
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