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Journal article

The life cycle of family ownership: International evidence.

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...

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Publisher copy:
10.1093/rfs/hhr135

Authors


Publisher:
Oxford University Press
Journal:
Review of Financial Studies
Volume:
25
Issue:
6
Pages:
1675 - 1712
Publication date:
2012-01-01
DOI:
ISSN:
0893-9454
Language:
English
UUID:
uuid:8bb2f574-5b17-4037-8ea8-f81fd01ee090
Local pid:
oai:economics.ouls.ox.ac.uk:15400
Deposit date:
2013-04-20

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