their voting power to entrench their positions and they can impede monitoring actions taken by other shareholders to … shareholders is required to reach an absolute majority of voting rights. Even though the average firm has a dispersed ownership … example, has an important impact on the ownership structure. In about 4% of sample companies, corporate shareholders hold just …

that they are incompetent and when board power has increased following corporate governance reforms. In contrast, CEOs are …

takeovers to test whether group structure, large shareholders, and bank control affect their value to shareholders. First, I …

mandates all shareholders with holdings of 5 percent or more in Dutch companies to disclose their holdings. Our analysis shows … that the average ownership stakes of the largest and the three largest shareholders are 27% and 41%, respectively. The …

management board. We show that a two-tier structure can limit the interference of large shareholders and can restore manager …’s incentive to exert effort to become informed on new investment projects without reducing the large, shareholder’s incentive to … profits can be sufficiently high to induce large shareholders to prefer a two-tier board despite the fact that in this case …

supervision hierarchical structure and its technology. I employ electricity data from the U.S. electric power market to test the …