We examine how ownership concentration and the separation of ownership and control affect market liquidity in France … concentrating control affect liquidity in different ways. Pyramid structures negatively affect liquidity for all pyramiding firms …. Double voting right shares, a French specific means of control enhancement rewarding long-term shareholders, lead to …

We examine how ownership concentration and the separation of ownership and control affect secondary-market liquidity in … of enhancing control affect liquidity in different ways. Pyramid structures impair market liquidity. Double voting right … shares, a French specific means of control enhancement rewarding long-term shareholders and restraining insiders from trading …

We examine how ownership concentration and the separation of ownership and control affect market liquidity in France … concentrating control affect liquidity in different ways. Pyramid structures negatively affect liquidity for all pyramiding firms …. Double voting right shares, a French specific means of control enhancement rewarding long-term shareholders, lead to …

. We show that control enhancing mechanisms reduce cash holdings of financially constrained firms. Control/ownership … deviation gives these firms extra flexibility, enabling them to issue shares without blockholders losing control, and provides …

We examine how ownership concentration and the separation of ownership and control affect secondary-market liquidity in … of enhancing control affect liquidity in different ways. Pyramid structures impair market liquidity. Double voting right … shares, a French specific means of control enhancement rewarding long-term shareholders and restraining insiders from trading …