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Spending Less Time with the Family: The Decline of Family Ownership in the UK.

Abstract:

Family ownership was rapidly diluted in the twentieth century in Britain. The main cause was equity issued in the process of making acquisitions. In the first half of the century, it occurred in the absence of minority investor protection and relied on directors of target firms protecting the interests of shareholders. Families were able to retain control by occupying a disproportionate number of seats on the boards of firms. However, in the absence of large stakes, the rise of hostile takeov...

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Publisher:
National Bureau of Economic Research, Inc.
Volume:
10628
Series:
NBER Working Papers
Host title:
NBER Working Papers
Publication date:
2004-01-01
Paper number:
10628
Language:
English
UUID:
uuid:c8d7f087-c511-4140-bf04-23593540a939
Local pid:
oai:economics.ouls.ox.ac.uk:12007
Deposit date:
2011-08-16

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