Who Owns the Largest Firms Around the World?

Alves, Paulo and Ferreira, Miguel (2008): Who Owns the Largest Firms Around the World? Published in: International Research Journal of Finance and Economics No. 21 (2008): pp. 93-110.

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.

• Item Type: MPRA Paper
• Language: English
• Keywords: Corporate Control; Institutional Variables
• Subjects: G - Financial Economics > G0 - General > G00 - General; G - Financial Economics > G3 - Corporate Finance and Governance; G - Financial Economics > G3 - Corporate Finance and Governance > G30 - General

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