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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 …
Persistent link: https://www.econbiz.de/10010206411
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 …
Persistent link: https://www.econbiz.de/10014422341
Equity ties between businesses change the division of the firms joint profits, thereby affecting incentives for relation-specific investments and other strategic actions. Depending on which side owns the equity and how readily the equity can be resold, we find that the changed incentives can...
Persistent link: https://www.econbiz.de/10011568807
institution's generate high levels of ownership concentration, poor access to external equity financing, and narrow equity markets …
Persistent link: https://www.econbiz.de/10003775790
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 …
Persistent link: https://www.econbiz.de/10009514535
This short technical report provides an empirical analysis of the level of institutional block ownership overall, and … of foreign block ownership, at a broad set of publicly traded corporations. Disclosed institutional blockholders of every … in three companies in the S&P 500 has one or more block holders with 20 % ownership, and one in eleven (9%) has one or …
Persistent link: https://www.econbiz.de/10011581995
control, and that a sizable fraction of such companies enable retaining control with less than a 5% stake. Finally, we examine … their stake without forgoing control. We then identify and examine measures that public officials or institutional investors …
Persistent link: https://www.econbiz.de/10011972992
equity owned firms. Among public companies, purpose is lower for firms with high hedge fund ownership and higher for firms …
Persistent link: https://www.econbiz.de/10012109293
on publicly traded firms, this paper, however, studies the effect of ownership type and control on firm performance and …The current literature on firm ownership around the world shows that concentrated ownership with only one or a few … controlling owners is common, especially in many European and Asian countries. The dispersed ownership has proven to be uncommon …
Persistent link: https://www.econbiz.de/10011575246
period between 2005 and 2010. Since ownership structures may have important consequences according to recent work, we … distress. We conclude that conditional on their liquidity status, these funds use cash as a device to provide for the ownership …
Persistent link: https://www.econbiz.de/10010202775