Economic Implications of Changing Share Ownership

Influence of Share Ownership on Repeat Patronage

Business researchers have recently become interested in how an individual’s share ownership in a publicly-listed company may affect his/her repeat patronage towards the company’s products and services. The purpose of this article is to investigate the influence of share ownership on repeat patronage, in conjunction with the influence of customer satisfaction. Survey data of a large sample of cu...

Changes in Share Ownership and Corporate Monitoring

We document a significant decrease in the ownership structure of a large number of companies in the UK over the last decade. We find that the increase in firm's size and risk and the decrease in performance explain a large proportion of this change. We also find that the dilution of ownership through new issues rather than sales of stakes to be the main reason for the decrease in management own...

CEO Share Ownership and Firm Valuation

We estimate the relation between Tobin’s Q and CEO share ownership with firm and CEO-firm fixed effects. Our results reveal an inverted U-shaped relation only when external pressure for good governance is weak, where the pressure is measured by product market competition and institutional ownership concentration. The inverted U-shaped relation seems to be a manifestation of some CEOs capturing ...

Firm Ownership and Economic Efficiency

JEL: D24, L33

Employee Share Ownership: a Review of the Literature