We study the relationship between liquid asset holding and the pattern of share ownership and control structures within … institutions of control oriented finance. The data include information on ownership concentration, voting alliances, managerial … ownership, membership in family groups, institutional cross-share holdings, and coordination centers which under Belgian law …

instrument for addressing the agency problem between managers and shareholders but also as part of the agency problem itself …. Boards of publicly traded companies with dispersed ownership, we argue, cannot be expected to bargain at arm’s length with …

viewed as detrimental to shareholders. We also find that there is commonly a big difference between a state's ability to …

This Paper analyses the interaction between legal shareholder protection, managerial incentives, and ownership … hurt minority shareholders. Legal shareholder protection affects both the expropriation of shareholders and the blockholder …'s incentives to monitor. Because of this latter effect and its repercussion on managerial incentives, outside ownership …

Voucher privatization programmes have been criticized for leading to excessively dispersed ownership and hence failure …

determinants of block premia. A sample of transactions from Poland is used to measure benefits and costs of ownership concentration … shareholders’ protection in transitional economies. Shareholder’s opportunities to extract private benefits of control turn out to …

aversion generates endogenous disagreement between a firm's insider and outside shareholders, creating a new rationale for …