Pindado, Julio; Torre, Chabela De La - In: Applied Economics Letters 11 (2004) 14, pp. 901-904
A recently published paper by Gugler and Weigand (2003) addresses the problem of the endogeneity of ownership, but an unresolved question remains. Where does this endogeneity come from? It is shown that the main source of endogeneity is the simultaneity between ownership and value.
