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Who Owns the Largest Firms Around the World?

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  • Alves, Paulo
  • Ferreira, Miguel

Abstract

In this research-paper we evaluate how corporate control around the world is defined and which variables, related to a firm's characteristics and the countries' infrastructures, influence this. We find that there is a small number of countries where firms are widely held. The role of financial institutions seems to be different in civil and common law-based countries. While they seem to act as a monitor of management in common law-based countries, in civil law countries they act as a monitor of large shareholders. Finally, we find that firm's size is the most important determinant of ultimate owners.

Suggested Citation

  • Alves, Paulo & Ferreira, Miguel, 2008. "Who Owns the Largest Firms Around the World?," MPRA Paper 52355, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:52355
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    File URL: https://mpra.ub.uni-muenchen.de/52355/1/MPRA_paper_52355.pdf
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    References listed on IDEAS

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    Cited by:

    1. Mr. Andre O Santos, 2015. "Integrated Ownership and Control in the GCC Corporate Sector," IMF Working Papers 2015/184, International Monetary Fund.
    2. Thomas Jeanjean & Hervé Stolowy & Michael Erkens, 2010. "Really “Lost in translation”? The economic consequences of issuing an annual report in English," Post-Print hal-00479511, HAL.
    3. Alves, Paulo, 2012. "The puzzle of corporate control," MPRA Paper 52113, University Library of Munich, Germany, revised 2012.

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    More about this item

    Keywords

    Corporate Control; Institutional Variables;

    JEL classification:

    • G00 - Financial Economics - - General - - - General
    • G3 - Financial Economics - - Corporate Finance and Governance
    • G30 - Financial Economics - - Corporate Finance and Governance - - - General

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