This paper analyses the German corporate law reform's effect on the publicly listed companies' ownership and … an empirical analysis using 1997-2008 panel data consisting of ownership, Tobin's Q, and sales growth follows. Empirical … evidence shows that ownership has become more dispersed (the total number of shareholders is larger) and that it had a positive …

This study examines changes in block ownership for a large sample of listed and non-listed German firms. The frequency … ownership (control transfers). Such changes are more likely for firms with high leverage, while they are less likely for larger … firms and firms with high ownership concentration. Only for listed firms poor performance is related to more frequent …

. This paper analyzes the impact of index fund and ETF ownership on the success of takeover offers in Germany. Based on a … impact of index fund and ETF ownership on takeover success. The fraction of outstanding shares eventually being tendered is …If a bidder launches a takeover offer for a listed company being part of a stock market index, then index funds and …

This chapter documents the evolution of ownership and control of firms around the world over a hundred year period from … stock markets and contrasts these with the persistent patterns of ownership that are observed in many countries around the … world. In particular, it documents the growth in dispersion in ownership that took place in many countries from the early …

different measures produce very different results. But, whichever measure is used, taking account of pyramid ownership … ultimate control rights measures are adequate on their own, suggesting that further work on ownership structure and pyramids is …

to be driven mainly by firms with managerial ownership. In a second step, we test how different corporate governance … this phenomenon. -- Accrual Anomaly ; Earnings Quality ; Corporate Governance ; Managerial Ownership ; Capital Market …

listed companies. This article introduces the concept of an ownership-based style index of listed firms in Germany, the … recent developments. -- insider ownership ; style index ; ownership structure ; corporate governance …