In this paper we contribute to the literature on the structure of interlocking directorship networks and to the literature on the relationship between corporate governance and performance. We use a unique dataset made of corporate governance variables related to the board size and interlocking...

This short technical report provides an empirical analysis of the level of institutional block ownership overall, and of foreign block ownership, at a broad set of publicly traded corporations. Disclosed institutional blockholders of every company in the Standard & Poor's 500 index are analyzed,...

In this paper we contribute to the literature on the structure of interlocking directorship networks and to the literature on the relationship between corporate governance and performance. We use a unique dataset made of corporate governance variables related to the board size and interlocking...

In this contribution, at first, we introduce a basic network framework to study pyramidal structures and wedges between ownership and control of companies. Then, we apply it to a dataset of 53.5 million of companies operating in 208 countries. Among others, we detect a strong concentration of...

When public institutions do not support information disclosure and contract enforcement, controlling owners may compensate by setting up ownership networks that facilitate the exchange of resources and alignment of interests. We examine how firms' controlling owners draw power from ownership...

In his article, Controlling Family Shareholders in Developing Countries: Anchoring Relational Exchange, Professor Ronald Gilson raises critical points against the conventional view of corporate governance in a controlling shareholder regime with poor investor protection: (1) given that equity...

Previous studies have shown that product market competition has an important effect on corporate strategies and internal governance mechanisms. Using a sample of China’s listed firms from 2004 to 2009, we explore the relationship between product market competition and normal related party...

Equity ties between businesses change the division of the firms joint profits, thereby affecting incentives for relation-specific investments and other strategic actions. Depending on which side owns the equity and how readily the equity can be resold, we find that the changed incentives can...

Prior studies on the relationship between ownership and firm performance have produced mixed results; hence, this paper re-examines the relationship using an unbalanced panel pooled sample of 4,443 observations listed in the emerging Taiwanese market. We adopt a dynamic perspective to explore...

We analyze the effects of different types and concentration of ownership on performance using a population of firms in a model transition economy after mass privatization. Specifications based on first-differences and unusual instrumental variables show that contrary to conventional wisdom, the...