The theory of law and finance proposed by La Porta et al. (1998) predicts that minority controlled ownership structures, i.e. the structures that allow voting rights to exceed cash-flow rights, are more frequent in legal contexts where investors are not well protected against the expropriation...

(VF)La relation qui existe entre la concentration des droits de vote et la performance des sociétés canadiennes est non monotone, reflétant à la fois les avantages et les inconvénients de la concentration des droits de propriété. Dans certaines circonstances, la séparation des droits de...

The purpose of this paper is to investigate whether the legal status of a firm and the set of corporate goals that it pursues have an influence on the firm's efficiency. To perform this investigation, the productivity of the two main Canadian railways, namely Canadian National Railway (CNR) and...

La Porta et al.'s [La Porta, R., Lopez-de-Silanes, F., Shleifer, A., & Vishny, R. (1998). Law and finance. Journal of Political Economy, 106(6), 1113-1155] theory of law and finance predicts that minority controlled ownership structures, i.e. those that allow voting rights to exceed cash-flow...

This study examines the link between ownership structures and R&D activities in Canada. Our main hypothesis is that highly concentrated ownership structures or the presence of controlling minority shareholders negatively affects R&D intensity of Canadian manufacturing firms. We observe a...

Recent empirical evidence indicates that the largest publicly traded companies throughout the world have concentrated ownership. This is the case in Canada where voting rights are often concentrated in the hands of large shareholders, mostly wealthy families. Such concentrated ownership...

Parametric estimation approaches are widely by central banks as they produce smooth term structures with relatively few parameters. In the paper I implement the Nelson and Siegel (1987) model for Switzerland. The estimations use daily observations of Swiss government bonds from January 1994 to...