utilities are large firms with professional management: there is a separation between ownership and control. The agency costs of …The purpose of this Paper is to study the determinants of the concentration of ownership in a privatized, regulated … corporate ownership, and more specifically the degree of shareholder concentration. Another, related issue, to be addressed is …

the subsequent 100 years, and comparing the pattern of ownership and control with a sample incorporated around 1960. We … corporations. We investigate this question by tracing the ownership and board composition of firms incorporated in around 1900 over … outside equity finance, and there was rapid dispersion of ownership even in the absence of investor protection. The …

pyramid structures can be used for control purposes. The static relation of ownership to control in Germany is therefore …In a study of the ownership of German corporations, we find a strong relation between board turnover and corporate … performance, little association between concentrations of ownership with managerial disciplining and only limited evidence that …

We investigate how temporary ownership by private equity firms affects industry structure, competition and welfare …. Temporary ownership leads to strong investment incentives because equilibrium resale prices are determined partly by buyers …

This paper analyses the investment incentives given by contingent ownership structures that are prevalent in joint … physical capital, the following ownership structure implements first-best investments: one party owns the firm initially, while …

We augment efficiency-based theories of ownership by including influence costs. Our principal conclusion is that the …