When searching for productivity spillovers from foreign firms, a firm is typically classified as foreign using a low threshold of direct foreign ownership. Instead, we advocate an "ultimate owner" definition because (i) ultimate ownership includes indirect ownership links that are prevalent in...

Theoretical results support two concurrent views regarding the mediating role that ownership structure might play on the effect of competition on firm performance. According to one stream of literature, competition has a high, positive impact in companies that have an effective ownership...