This paper studies the separation of ownership and control of 108 listed companies in Colombia from 1996 to 2002 … examines the association of various ownership and control measures and separation ratios with a firms value and performance for …, finding that voting rights are greater than cash flow rights because of indirect ownership across firms. The paper also …

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 …

CEMs to measure the divergence between control and ownership rights. Supporting the rent extraction hypothesis, holding … business group companies have lower dividend payouts as the divergence between control and ownership rights widens and the …In Eurasia, Turkey has a "crony" capitalist system with majority control and business groups (BGs) in the hands of a …

become difficult to assess a firm’s controllers. Furthermore, if there are numerous dominant shareholders, the control can be …

decades has led to higher levels of common ownership and increased attention on the topic by academic researchers. A consensus … has yet to emerge from the literature regarding the consequences of increased common ownership on firm behavior and market … provides an overview of the theoretical underpinnings of common ownership and critically reviews the empirical literature …

The benefits of family ownership and control of firms are at the center of the family firm debate. Previous studies … have used either family ownership or management as proxies for control. Both indicators are off the mark, as they do not … of family ownership, control and management on financial firm performance, while controlling for goal heterogeneity of …

We find a significant hump-shaped relation between firm valuation and CEO ownership when external governance (EG) is … firm-fixed effects. The results imply that CEO ownership and EG are substitutes in mitigating agency problems at low levels … of ownership. At large ownership, the combination of large voting rights and high wealth-performance sensitivity causes …

performance. Firms with more tunneling activities typically have larger controlling ownership, greater evidence of state control … ownership. We empirically address the issues between executive compensation and expropriation of minority shareholders …