This study provides critical observations on the state of key global equity markets as recent developments have put into question their efficiency and effectiveness in facilitating capital formation. It covers the top 26 initial public offering (IPO) producing nations, with a particular focus on...

The role of corporations in allocating resources has been of great importance in the debate about the manner in which enterprises should be governed to enhance economic growth. Corporate governance features seem to be central to the dynamics by which successful firms and economies improve their...

Outside the United States and the United Kingdom, large corporations usually have controlling owners, who are usually very wealthy families. Pyramidal control structures, cross shareholding, and super-voting rights let such families control corporations without making a commensurate capital...