Industry-specificities and Size of Corporations: Determinants of Ownership Structures

C. van der Elst

No 04-19, Working Papers from Utrecht School of Economics

Abstract: This paper analyses ownership concentration in six European countries and empirically studies the rent-seeking theory. This theory states that ownership concentration not only depends on the level of investor protection but also on company-specific and industry-specific parameters. This study analyses the sector specific ownership patterns of listed corporations. The results only partially confirm the influence of industry-specific characteristics. Different industries are characterised by different shareholder concentration patterns. Hence and in light of the rent-seeking theory it is plausible that company’s specific characteristics, like the identity of the largest shareholder, the risk of the firm, etc. influence rent-seeking behavior.

Keywords: Voting-block statistics; industry characteristics; size; determinants of ownership concentration (search for similar items in EconPapers)
Date: 2004-06
New Economics Papers: this item is included in nep-fin and nep-tid
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Citations: View citations in EconPapers (6)

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