Pindado, Julio; Requejo, Ignacio; de la Torre, Chabela - In: Journal of Empirical Finance 27 (2014) C, pp. 58-74
We investigate whether the value impact of family control in Western European firms depends on country-level investor protection. To this aim, we account for ownership–value nonlinearities. Supporting that the risk of expropriation increases with high ownership concentration, we find an...