This paper offers solutions to mitigate the problems associated with the endogeneity issues of explanatory variables faced by corporate finance researchers who analyze observational data via regression methods. Such problems may bias the causality inferences between variables, a fundamental goal...

This paper aims to analyze the ownership structure of 100 companies that went public in the Sao Paulo Stock Exchange (BOVESPA) during 2004 to 2007. We assess, particularly, the effect of pyramidal ownership structures on firm’s market value. In order to do so, we collect data on the firm’s...