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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. Issuance of equity in the process of acquisitions was the main cause. 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 takeover...

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Publication status:
Published

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Publisher:
University of Oxford
Series:
Department of Economics Discussion Paper Series
Publication date:
2003-08-01
Paper number:
2003-FE-15
Keywords:
Pubs id:
1006672
Local pid:
pubs:1006672
Deposit date:
2020-12-14

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