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We study the determinants of private benefits of control in negotiated block transactions. We estimate the block pricing model in Burkart, Gromb, and Panunzi (2000) explicitly dealing with the existence of both block premia and block discounts in the data. We find evidence that the occurrence of...
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explore the perceptions of family firm owners towards external managers by analyzing how their family-specific and company … providers. Prior work: Prior research has acknowledged that the attitude to external managers is a major concern for family … independence and control is high. Furthermore, they do not seem to trust external managers to act in accordance to their goal of …
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