Block investments and the race for corporate control in Belgium

Ariane Chapelle ()

No 04-019.RS, Working Papers CEB from ULB -- Universite Libre de Bruxelles

Abstract: This paper investigates the common patterns of ownership structure across different corporate governance systems. We test the predictions of Zwiebel (1995) using ownership data of Belgian listed companies in 1995 and in 1999. Results show good applicability of the model. This empirical research relates to other contributions performing tests for Hungary, Poland, and Spain. Next the model and its limitations are discussed. The paper opens promising fields for research in ownership structure modeling adapted to corporate governance systems of Continental and Eastern Europe.

Keywords: block investment; corporate control; ownership and control (search for similar items in EconPapers)
JEL-codes: G32 G34 (search for similar items in EconPapers)
Pages: 27 p.
Date: 2004-06
New Economics Papers: this item is included in nep-fin
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Published by: Université Libre de Bruxelles, Solvay Business School, Centre Emile Bernheim (CEB)

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Related works:
Working Paper: Block investments and the race for corporate control in Belgium (2004)
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