Brounen, Dirk; Kok, Nils; Ling, David C. - In: Journal of International Money and Finance 31 (2012) 7, pp. 1867-1889
The shareholder composition of listed property companies has changed from the fragmented, retail ownership, to more concentrated, institutional ownership over the past decade. In this paper, we first document significant variation in the composition of the shareholder base across the world's...
