Most pre-crisis explanations of the various corporate governance systems have considered the separation between ownership and control to be an advantage of the Anglo-American economies. They have also attributed the failure of other countries to achieve these efficient arrangements to their...

Based on hand-collected information on private companies listed in the Chinese SME stock market, this paper studies how family involvement and political connection affect firms' IPO underpricing. Especially, we investigate how underpricing varies with higher- and ordinary level political...

In January 2010 the Deutsche Börse Group introduced two family firm stock indices. Both indices are calculated as price and performance indices and extend the number of investment strategy indices of Deutsche Börse Group. The DAXplus Family is an all-share index whereas the DAXplus Family 30...

We derive and develop a simple and intuitive model that shines fresh light on the relentless debate over whether corporate ownership converges to the Berle-Means modern corporation with high stock ownership dispersion. Our model takes into account the importance of both protective legal...

Previous studies offer evidence that foreign investors invest less money in countries or firms with weak corporate governance structures (Aggarwal et al. 2005; Dahlquist et al. 2003; Kim et al. 2010; Leuz et al. 2009). Investigating Japanese companies that go public during the 1997-2002 period, we find that...