Using a comprehensive international sample of 18,932 firms across 40 countries, we find that cross-country variations in ownership concentration are attributable to differences in firm sizes. Ownership concentration in large firms differs strikingly between countries. For example, large U.S....

Productivity growth has been slow in many continental European countries over the last few decades, especially in comparison with the United States. It has been argued that lack of product market competition and poor corporate governance are two of the main reasons for this phenomenon. However,...