We show how the change to differential voting rights allows dominant shareholders to retain control even after selling … substantial economic ownership in the firm and diversifying their wealth. This unbundling of cash flow and control rights leads to … more dispersed economic ownership and a closer alignment of dominant and dispersed shareholder interests. When insiders …

We find that ownership changes much less over time in private firms than in public firms. The average largest … ownership dominates ownership determinants proposed in the literature, and the estimated relationship depends heavily on whether … the economic model and the econometric technique capture the strong ownership persistence. This evidence suggests that …

This paper investigates how family ownership, control and management affect firm investment performance. We use the …

shareholders is smaller or when savings banks are family firms. Practical implications: Outside directors can not only play the …

diversification decision. For this sake, a theoretical framework based on the corporate governance contractual approach has been … advanced highlighting the idea that the presence of institutional enjoys a diversification-oriented strategic decision. For … persistence of a significant impact of the institutional investors on diversification decision. …

.e., family ownership and family management) in publicly-traded firms and firm performance by drawing upon agency theory, with a …) protecting management legally on the inverted U-shaped relationship between family ownership and firm performance. We also found … toward monitoring the actions of large shareholders such as family and enhancing the overall shareholder value in publicly …