This paper analyzes the impact of blockownership dispersion on firm value. Blockholdings by multiple blockholders is a widespread phenomenon in the U.S. market. It is not clear, however, whether dispersion among blockholder is preferable to having a more concentrated ownership structure. To test...

The aim of this study is to research the influence of ownership structure on firm value in order to provide, from our knowledge, the first results for the case of the Bucharest stock exchange listed companies. Therefore, we have considered the shareholdings of the following types of...

This paper analyzes the impact of blockownership dispersion on firm value. Blockholdings by multiple blockholders is a widespread phenomenon in the U.S. market. It is not clear, however, whether dispersion among blockholder is preferable to having a more concentrated ownership structure. To test...

Purpose - The main purpose of the present research is to study the relationship between ownership concentration and the type of ownership, i.e. state, firm (legal persons), individual, family, institutional – on the value of the companies listed in Tehran Stock Exchange (TSE)....

Corporate governance mechanisms were generated, due to a conflict of interest between owners and managers and to eliminate the problems of representation and assured shareholders that their funds will not be wasted because of investing on non-profit activities. Improving corporate governance is...

This study first examines whether it is appropriate to integrate the 13 observed corporate governance mechanisms into the multiconstruct of information transparency, ownership structure, board structure, and firm value, and further explores whether a company's simultaneous adoption of the...

Multiple blockholder structures are a widespread phenomenon in the U.S. The theoretical literature, however, provides conflicting predictions on whether a single large blockholder or a set of dispersed smaller blockholders is better for firm value. Using U.S. data, we find a negative correlation...

This discussion paper resulted in a publication in the <I>Journal of Corporate Finance</I> (2011). Vol. 17, issue 5.<P> This paper analyzes the impact of blockownership dispersion on firm value. Blockholdings by multiple blockholders is a widespread phenomenon in the U.S. market. It is not clear, however,...</p></i>

We examine the value shareholders attribute to one euro of extra cash held by Spanish firms and how corporate governance impacts this value by comparing the value of cash for companies with good and poor governance. The results show that one euro of extra cash is valued at a considerable premium...

This paper presents evidence on cash holdings for Japanese firms listed on the Tokyo Stock Exchange, focusing on the impact of corporate governance factors in cash holdings and the implication of cash holdings to firm value. We find that insider ownership and bank relations of firms play a...