The paper argues that the weakest link principle, which has been widely used as a measure of ultimate owners' control … rights, has a number of serious problems. A theoretically more satisfactory method of measuring control rights, based on … structures has little effect on the values of control and cashflow rights. The results also show that neither first-tier nor …

The paper analyzes the interplay of product market competition and governance on CEO compensation in Italian listed … market competition eventually prevails over family ties even in a family-controlled governance system such as in Italy. …

This paper presents estimates from a latent variables model of the relation between corporate governance and financial …

simple unifying model, and discussing the challenges and methodological issues with empirical research. …

We derive determinants of tax avoidance by means of a multi-task principal-agent model. We extend prevailing models by … portfolio. Our model shows novel and apparently paradoxical results regarding the impact of increased tax rates on efforts …

; corporate control ; financial control …

ownership and control to be an advantage of the Anglo-American economies. They have also attributed the failure of other … other, generating complex interactions of financial and labour market institutions. Countries cluster along different … a single model of corporate governance. We argue that this hypothesis provides a more convincing explanation of the past …