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Ownership: Evolution and regulation.

Abstract:

This article is the first study of long-run evolution of investor protection and corporate ownership in the United Kingdom over the twentieth century. Formal investor protection emerged only in the second half of the century. We assess the influence of investor protection on ownership by comparing cross-sections of firms at different times in the century and the evolution of firms incorporating at different stages of the century. Investor protection had little impact on dispersion of ownershi...

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Publisher copy:
10.1093/rfs/hhn108

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Journal:
Review of Financial Studies
Volume:
22
Issue:
10
Publication date:
2010-01-01
DOI:
URN:
uuid:8448c95b-b682-48af-af50-df64d0490814
Local pid:
oai:economics.ouls.ox.ac.uk:14920
Language:
English

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