Journal ArticleDOI
The separation of ownership and control in east asian corporations
TLDR
The authors examined the separation of ownership and control for 2,980 corporations in nine East Asian countries and found that voting rights frequently exceed cash-ow rights via pyramid structures and cross-holdings.About:
This article is published in Journal of Financial Economics.The article was published on 2000-01-01. It has received 4195 citations till now.read more
Citations
More filters
Journal ArticleDOI
How does family involvement affect a firm's internationalization? An investigation of Indian family firms
TL;DR: In this paper, the authors investigate whether and how family ownership and management influence firms' internationalization strategies in an emerging economy in which family firms are dominant, and they find that the heterogeneity among family firms in their ownership structures, concentration, and family involvement in management shapes the firm's internationalization strategy.
Journal ArticleDOI
Earnings quality and the adoption of IFRS- based accounting standards: Evidence from an emerging market
TL;DR: In this article, the authors investigated the differences in earnings quality of Malaysian companies after the adoption of IFRS-based accounting standards named FRS, and found that higher quality of reported earnings is associated with higher earnings management and higher value relevant.
Posted Content
The Class of Shareholdings and its Impacts on Corporate Performance: A Case of State Shareholding Composition in Chinese Public Corporations
Guy S. Liu,Pei Sun +1 more
TL;DR: In this paper, a state-dominant shareholding structure is found, in that 81.6 per cent of companies are identified as ultimately controlled by the state, and the least inefficient shareholding class is the holding companies that are wholly listed and have focused industrial business through the state indirect control of the downstream public corporations.
Journal ArticleDOI
Big business stability and economic growth: Is what's good for General Motors good for America?
TL;DR: More turnover in top businesses correlates with faster per capita gross domestic product, productivity, and capital growth; supporting Schumpeter's (1942) theory of “creative destruction”.
Journal ArticleDOI
Family Business Performance from a Governance Perspective: A Review of Empirical Research
TL;DR: In this article, the authors provide an in-depth analysis of the family business governance system in three steps and highlight the need to contemplate the multiple relations that exist among the various governance dimensions of family firms to explain their unique performance.
References
More filters
Journal ArticleDOI
Theory of the firm: Managerial behavior, agency costs and ownership structure
TL;DR: In this article, the authors draw on recent progress in the theory of property rights, agency, and finance to develop a theory of ownership structure for the firm, which casts new light on and has implications for a variety of issues in the professional and popular literature.
Posted Content
Law and Finance
Rafael La Porta,Rafael La Porta,Florencio Lopez de Silanes,Florencio Lopez de Silanes,Andrei Shleifer,Andrei Shleifer,Robert W. Vishny,Robert W. Vishny +7 more
TL;DR: This paper examined legal rules covering protection of corporate shareholders and creditors, the origin of these rules, and the quality of their enforcement in 49 countries and found that common law countries generally have the best, and French civil law countries the worst, legal protections of investors.
Book
The Modern Corporation and Private Property
TL;DR: Weidenbaum and Jensen as mentioned in this paper reviewed the impact of developments not fully anticipated by Berle and Means, such as the rise of the service sector, and the significant role played by institutional investors in the owner/manager equation.
Journal ArticleDOI
The Costs and Benefits of Ownership: A Theory of Vertical and Lateral Integration
Sanford J. Grossman,Oliver Hart +1 more
TL;DR: In this paper, a theory of costly contracts is presented, which emphasizes the contractual rights can by of two types: specific rights and residual rights, and when it is costly to list all specific rights over assets, it may be optimal to let one party purchase all residual rights.
Journal ArticleDOI
Corporate Ownership Around the World
TL;DR: In this paper, the authors use data on ownership structures of large corporations in 27 wealthy economies to identify the ultimate controlling shareholders of these firms, and they find that, except in economies with very good shareholder protection, relatively few firms are widely held, in contrast to Berle and Means's image of ownership of the modern corporation.