Publications

30 Apr 2009
Working Paper Summaries

Earnings Quality and Ownership Structure: The Role of Private Equity Sponsors

Keywords: by Sharon P. Katz; Financial Services

2010
Working Paper

The Powerful Pervasive Effects of Ownership on M&A

By: John C. Coates

05 Dec 2008
News

New Book Reveals How Customer and Employee Ownership Adds Business Value

Ownership Quotient: Putting the Service Profit Chain to Work for Unbeatable Competitive Advantage

Hundreds of large organizations worldwide have used the groundbreaking Service Profit Chain to improve business... View Details

2008
Working Paper

Laws vs. Contracts: Legal Origins, Shareholder Protections, and Ownership Concentration in Brazil, 1890–1950

By: Aldo Musacchio

The early development of large multidivisional corporations in Latin America required much more than capable managers, new technologies, and large markets. Behind such corporations was a market for capital in which entrepreneurs had to attract investors to buy either... View Details

Keywords: Voting; Entrepreneurship; Investment; Governance Controls; Contracts; Laws and Statutes; Ownership Stake; Brazil

20 Mar 2021
News

US security focus on Chinese state ownership is not productive, advisory panel is told

Research Summary

The Talent at the Table: Business Expertise and Share Ownership in Fortune 500 Boardrooms

This paper examines the relationship between corporate value and "vestige" directors, defined as directors who own sizeable shareholdings but lack salient business experience relative to their peers on Fortune 500 boards. These people come to serve on... View Details

2006
Chapter

Taxation and the Evolution of Aggregate Corporate Ownership Concentration

By: Mihir A. Desai, Dhammika Dharmapala and Winnie Fung

Keywords: Taxation; Expansion; Business Ventures; Ownership

SSRN

Article

Businessmen and Land Ownership in the Late Nineteenth Century

By: Tom Nicholas

This article analyses the proportions of personal to real estate wealth for a group of 295 businessmen profiled in the Dictionary of business biography. It shows that businessmen who owned land on a large scale in the late nineteenth century were a comparatively small... View Details

Keywords: Ownership; Personal Finance; Property; Biography; History; Acquisition; Wealth; Power and Influence; Status and Position; Integration; Transformation; Market Transactions

14 Feb 2008
Working Paper Summaries

Laws vs. Contracts: Legal Origins, Shareholder Protections, and Ownership Concentration in Brazil, 1890-1950

Keywords: by Aldo Musacchio

July 2009
Article

Bad Riddance or Good Rubbish? Ownership and Not Loss Aversion Causes the Endowment Effect

By: C. K. Morewedge, L. L. Shu, D. T. Gilbert and T. D. Wilson

People typically demand more to relinquish the goods they own than they would be willing to pay to acquire those goods if they didn't already own them (the endowment effect). The standard economic explanation of this phenomenon is that people expect the pain of... View Details

Keywords: Value; Judgments; Consumer Behavior; Attitudes

August 2013
Article

Corporate Ownership Structure and the Choice Between Bank Debt and Public Debt

By: Chen Lin, Yue Ma, Paul Malatesta and Yuhai Xuan

This paper examines the relation between a borrowing firm's ownership structure and its choice of debt source using a novel, hand-collected data set on corporate ownership, control, and debt structures for 9,831 firms in 20 countries from 2001 to 2010. We find that the... View Details

Keywords: Governance; Ownership; Borrowing and Debt; Corporate Finance

2005
Working Paper

Taxation and the Evolution of Aggregate Corporate Ownership Concentration

By: Mihir A. Desai, Dhammika Dharmapala and Winnie Fung

SSRN

2006
Article

Measuring the Effect of Multimarket Contact on Competition: Evidence from Mergers Following Radio Broadcast Ownership Deregulation

By: Joel Waldfogel and Julie Wulf

This paper examines the effects of multimarket contact on advertising prices in the U.S. radio broadcasting industry. While it is in general difficult to measure the effect of multimarket contact on competition, the 1996 Telecommunications Act substantially relaxed... View Details

Keywords: Marketing Communications; Markets; Geographic Location; Advertising; Ownership; Price; Telecommunications Industry; Media and Broadcasting Industry; United States

01 Oct 2020
Video

Lara O'Connor Hodgson: Balancing Equity Ownership with Varying Levels of Contribution

2009
Working Paper

The Impact of Private Equity Ownership on Portfolio Firms' Corporate Tax Planning

By: Brad Badertscher, Sharon P. Katz and Sonja Olhoft Rego

This study investigates whether private equity (PE) firms influence the tax practices of their portfolio firms. Prior research documents that PE firms create economic value in portfolio firms through effective governance, financial, and operational engineering. Given... View Details

Keywords: Private Equity; Investment Portfolio; Corporate Governance; Taxation; Ownership Stake; Value Creation

Article

On Derivatives Markets and Social Welfare: A Theory of Empty Voting and Hidden Ownership

By: Jordan M. Barry, John William Hatfield and Scott Duke Kominers

In the past twenty-five years, derivatives markets have grown exponentially. Large, modern derivatives markets increasingly enable investors to hold economic interests in corporations without owning voting rights, and vice versa. This leads to both empty... View Details

Keywords: Voting; Corporate Disclosure; Financial Markets; Ownership

1984
Chapter

Theory of the Firm: Managerial Behavior, Agency Costs and Ownership Structure

By: Michael Jensen and William H. Meckling

Keywords: Managerial Roles; Management Style; Ownership; Organizational Structure; Theory