This paper examines the relation between firm investment ratios and institutional blockholder ownership for a sample of 6,300 publicly traded firms of 16 large emerging markets for the 2005-2014 period. Results show that independent, long-term, and local institutional investors boost investment...

In this paper, we analyze what effects separating ownership and control have on the performance of a sample of 99 Chilean family-controlled firms for the period 2001–2014. Our results show an inverse U-shaped relationship between voting rights and cash flow rights divergence and firm value....

This article examines the effects of family control and pyramidal ownership on firms’ capital structure decisions. After studying a sample of listed family and nonfamily firms in Chile, we find that families take a conservative approach to debt and financial risk exposure. We test the...