A Glance of Dual-Class Companies in the U.S
نویسنده
چکیده
Recently, the topic of dual-class companies has been popular with the media, academia, and professionals. A dual-class company is a type of company that issues two classes of common stocks. One is a publicly traded inferior stock with one voting right per share, and the other is a non-publicly traded superior stock with multiple voting rights per share. Therefore, in a dualclass firm, shareholders of superior stocks have more voting power than cash flow power. A dual-class company has a stock structure that allows shareholders of superior stocks to have disproportionally higher voting power than the financial risk. As a result, firm insiders such as board members and executives maintain the decision-making power in the company.
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