- Abstract:
-
We show that in countries with strong investor protection, developed financial markets, and active markets for corporate control, family firms evolve into widely held companies as they age. In countries with weak investor protection, less developed financial markets, and inactive markets for corporate control, family control is very persistent over time. While family control in high investor protection countries is concentrated in industries that have low investment opportunities and low merg...
Expand abstract - Publisher copy:
- 10.1093/rfs/hhr135
-
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- Journal:
- Review of Financial Studies
- Volume:
- 25
- Issue:
- 6
- Publication date:
- 2012-01-01
- DOI:
- URN:
-
uuid:8bb2f574-5b17-4037-8ea8-f81fd01ee090
- Local pid:
- oai:economics.ouls.ox.ac.uk:15400
- Language:
- English
- Copyright date:
- 2012
Journal article
The life cycle of family ownership: International evidence.
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