Ehrhardt, Olaf; Kuklinski, Jan; Nowak, Eric - Institut für Schweizerisches Bankwesen <Zürich> - 2005
This paper examines the unification of non-voting preference shares into a one share one vote structure using a sample …. Indeed, family firms losing the majority of control by unifying their share classes seem to restrain from this step by … violation of the one share-one vote rule and, thus, face higher costs of equity capital. We apply two methods for estimating …