Recent Studies on Common Ownership, Firm Behavior, and Market Outcomes

The Effect of Blockholder Ownership on Firm Value in Market - and Control - Based Governance Systems

We use Granger-tests to examine the causal relationship between blockholder ownership and value of the largest EU and US companies. Previous studies on US data have found no systematic effect, but we propose that these results may not carry over to continental Europe, where ownership concentration is higher, the level of investor protection is lower, and influential blockholders may have other ...

Firm Ownership and Economic Efficiency

JEL: D24, L33

Ownership of the Firm

Ownership Structure and Firm Performance in Russia The Case of Blue Chips of the Stock Market

All opinions expressed here are those of the authors and not those of the Economics Education and Research Consortium. Research dissemination by the EERC may include views on policy, but the EERC itself takes no institutional policy positions Based on panel data from 1995 – 1997, the paper focuses on the impact of ownership structure on the performance of Russian non-financial privatized compan...

Family Ownership, Multiple Blockholders and Firm Performance

Recent research has documented that family-controlled firms are very common around the world. This paper provides new evidence on the accounting and market performance of this type of companies. The empirical investigation is conducted on a market in which family firms are well-established and represent the most widespread form of ownership, namely Switzerland. Using panel data for the period 2...