Showing 1 - 10 of 10
Persistent link: https://www.econbiz.de/10003358676
Persistent link: https://www.econbiz.de/10009764337
Persistent link: https://www.econbiz.de/10003761683
Persistent link: https://www.econbiz.de/10003296152
We study the role of pyramidal ownership structures in the creation of new firms. Our results suggest that pyramids arise because they provide a financing advantage in setting up new firms when the pledgeability of cash flows to outside financiers is limited. Parent companies supply inside funds...
Persistent link: https://www.econbiz.de/10013115668
We study how product market competition affects firms' ownership structures using a large sample of closely-held firms in 18 European countries. We show that firms operating in more competitive environments have lower inside ownership and that the stakes of their outside shareholders are more...
Persistent link: https://www.econbiz.de/10012938218
This paper challenges the view that foreign investors lead firms to adopt a short-term orientation and forgo long-term investment. Using a comprehensive sample of publicly listed firms in 30 countries over the period 2001-2010, we find instead that greater foreign institutional ownership fosters...
Persistent link: https://www.econbiz.de/10013004070
Persistent link: https://www.econbiz.de/10011750769
Persistent link: https://www.econbiz.de/10011751873
This paper challenges the view that foreign investors lead firms to adopt a short-term orientation and forgo long-term investment. Using a comprehensive sample of publicly listed firms in 30 countries over the period 2001–2010, we find instead that greater foreign institutional ownership...
Persistent link: https://www.econbiz.de/10012967649