Pedersen, Torben; Thomsen, Steen - In: Journal of Management and Governance 7 (2003) 1, pp. 27-55
The paper examines the relationship betweenownership structure and value of the largestEuropean firms. Using simultaneous estimationand controlling for nation and industry effectswe find that ownership concentration (measuredby the fraction of ``closely held'' shares) hasa positive effect on...