Who Owns the Largest Firms Around the World?

Paulo Alves and Miguel Ferreira ()

MPRA Paper from University Library of Munich, Germany

Abstract: In this research-paper we evaluate how corporate control around the world is defined and which variables, related to a firm's characteristics and the countries' infrastructures, influence this. We find that there is a small number of countries where firms are widely held. The role of financial institutions seems to be different in civil and common law-based countries. While they seem to act as a monitor of management in common law-based countries, in civil law countries they act as a monitor of large shareholders. Finally, we find that firm's size is the most important determinant of ultimate owners.

Keywords: Corporate Control; Institutional Variables (search for similar items in EconPapers)
JEL-codes: G00 G3 G30 (search for similar items in EconPapers)
Date: 2008
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Published in International Research Journal of Finance and Economics 21 (2008): pp. 93-110

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:52355

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