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Estimating the effects of large shareholders using a geographic instrument

Becker, Bo; Cronqvist, Henrik; Fahlenbrach, Rüdiger - 2011

"Large shareholders may play an important role for firm performance and policies, but identifying this empirically presents a challenge due to the endogeneity of ownership structures. We develop and test an empirical framework which allows us to separate selection from treatment effects of large...

Persistent link: https://www.econbiz.de/10009312050