Nagar, Venky; Petroni, Kathy; Wolfenzon, Daniel - In: Journal of Financial and Quantitative Analysis 46 (2011) 04, pp. 943-966
A major governance problem in closely held corporations is the majority shareholders’ expropriation of minority shareholders. As a solution, legal and finance research recommends that the main shareholder surrender some control to minority shareholders via ownership rights. We test this...