This paper aims to analyze the ownership structure of 100 companies that went public in the Sao Paulo Stock Exchange (BOVESPA) during 2004 to 2007. We assess, particularly, the effect of pyramidal ownership structures on firm’s market value. In order to do so, we collect data on the firm’s...

This paper analyzes the determinants of the differential pricing of equity classes (voting and non-voting shares) or the so-called dual-class premium (DCP) in Brazil from 1995 to 2006 with a focus on two specific corporate governance aspects: i) the granting of tag along rights, a mandatory bid...

A poor ethical culture has been considered one of the reasons for the emergence of many corporate governance scandals. In this paper, I investigate the link between two corporate governance mechanisms – the composition of the board of directors and ownership structure – and ethical culture...