This paper reviews the theoretical and empirical literature on the role of blockholders (large shareholders) in … corporate governance. We start with the underlying property rights of public corporations; we discuss how blockholders are … critical in addressing free-rider problems and why, like owners of private property in general, blockholders are likely to be …

agency conflicts are largely due to differences in firm-level governance, ownership concentration, and other firm …, the latter being smaller in civil law countries where ownership is more concentrated …

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 …

This paper demonstrates that the current literature on cross-ownership among firms underestimates the true degree of … show that under cross-ownership the voting rights associated with ownership are typically underestimated. We demonstrate by … example that control and ownership of dividend rights may be entirely separated, and that multiple equilibria may exist in …

control. In the optimal ownership structure, the more efficient blockholder will hold just enough shares to gain control, but …