Myth of Diffuse Ownership in the United States
47 Pages Posted: 6 Jun 2007
Abstract
This paper offers evidence on the ownership concentration at a representative sample of U.S. public firms. 96% of these firms have blockholders; these blockholders in aggregate own an average 39% of the common stock. The ownership of U.S. firms is similar to and by some measures more concentrated than the ownership of firms in other countries. These findings challenge current thinking on a number of issues, ranging from the nature of the agency conflict in domestic corporations to the relationship between ownership concentration and legal protections for investors around the world.
Keywords: Ownership Concentration, Blockholders
JEL Classification: G32, G34
Suggested Citation: Suggested Citation
0 References
0 Citations
Do you have a job opening that you would like to promote on SSRN?
- Citations
- Citation Indexes: 36
- Usage
- Abstract Views: 5124
- Downloads: 1043
- Captures
- Readers: 8
- Citations
- Citation Indexes: 36
- Usage
- Abstract Views: 5124
- Downloads: 1043
- Captures
- Readers: 8
Recommended Papers
-
A Survey of Corporate Governance
By Andrei Shleifer and Robert W. Vishny
-
The Separation of Ownership and Control in East Asian Corporations
By Stijn Claessens, Simeon Djankov, ...
-
One Share/One Vote and the Market for Corporate Control
By Sanford J. Grossman and Oliver Hart