CORPORATE OWNERSHIP AND CONTROL IN THE U.K., GERMANY, AND FRANCE
Like its U.S. counterpart, the U.K. corporate ownership and governance system can be characterized as an "outsider" system with a large number of public corporations, widely dispersed ownership (though with growing concentrations of institutional shareholdings), and well-developed takeover markets. By contrast, the much smaller number and proportion of publicly traded German and French corporations are governed by "insider" systems--those in which the founding families, banks, or other companies have controlling interests and in which outside shareholders are not able to exert much control. 1997 Morgan Stanley.
Year of publication: |
1997
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Authors: | Franks, Julian ; Mayer, Colin |
Published in: |
Journal of Applied Corporate Finance. - Morgan Stanley, ISSN 1078-1196. - Vol. 9.1997, 4, p. 30-45
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Publisher: |
Morgan Stanley |
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