. Thedifferent measures produce very different results. But, whichever measure is used, taking account of pyramid ownership … ultimate control rights measures are adequate on their own, suggesting that further work on ownership structure and pyramids is …

ownership and control to be an advantage of the Anglo-American economies. They have also attributed the failure of other …

consequences of concentrated ownership, these results suggest that bank influence serves as a substitute control mechanism, one of …

We show 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 by buyers incentives to block …

We analyze the long-term effects of firm break-up and ownership change on corporate performance. Our analysis is based … after a certain point they quickly diminish over time. Factors like changes in ownership structure and management are to be …

We analyze the optimal ownership, delegation and compensation structures when a manager is hired to run a firm and to … choice. Optimality would require a large ownership stake for monitoring but a small stake for not interfering with managerial …. The large shareholder retains full ownership of the firm but monitoring, and the resulting firing policy, are distorted …

severe if firms have a more dispersed ownership structure. Empirically, using a large panel of European firm-level data, we …