The puzzle of corporate control

Paulo Alves

MPRA Paper from University Library of Munich, Germany

Abstract: In this research paper the main forces that influence different kinds of corporate control of the largest firms by country are evaluated. Firms controlled by individuals, Government, miscellaneous investors or widely held, exist under different circumstances. While firms controlled by individuals are small, proliferate on civil-law based countries with low levels of economic freedom, firms controlled by Governments multiply under low standards of disclosure, undeveloped financial markets and non catholic environments. On the other hand, the presence of miscellaneous investors is more frequent when stocks are glamorous and small wherein the smaller shareholder can easily use their limited resources and monitoring the management/larger shareholder. Finally, widely held firms are large and are stimulated by an economic freedom behavior.

Keywords: Corporate control; Ultimate owner; Institutional Environment; Widely Held (search for similar items in EconPapers)
JEL-codes: G30 G32 (search for similar items in EconPapers)
Date: 2012, Revised 2012
References: View references in EconPapers View complete reference list from CitEc
Citations:

Published in International Research Journal of Finance and Economics 99 (2012): pp. 53-63

Downloads: (external link)
https://mpra.ub.uni-muenchen.de/52113/1/MPRA_paper_52113.pdf original version (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:52113

Access Statistics for this paper

More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Joachim Winter ().