We follow the evolution of ownership structure in a sample of 80 Israeli companies that unified their dual-class shares in the 1990s, and compare it with a control sample of firms that maintained their dual share structure at least until 2000. Our main findings are as follows. First, controlling...

We examine 54 large transactions in Israel - a concentrated ownership economy, and estimate the private benefits of control implied in the block price via an elaborated Barclay and Holderness (1989) methodology. Cross-sectional regressions indicate that private benefits, as a proportion of...