Dittmann, Ingolf; Ulbricht, Niels - In: European Financial Management 14 (2008) 1, pp. 163-196
"This paper studies the reasons and the costs of separating ownership from control by analysing the decision of German dual class firms to consolidate their share structure from dual to single class equity between 1990 and 2001. We find that the firm value increases significantly by an average...