European Patterns of Corporate Ownership: A Twelve-Country Study

A number of qualitative studies have shown striking international differences in corporate governance systems. This paper presents a quantitative analysis of ownership structures among the hundred largest companies in twelve European countries. The existence of a highly significant nation effect is confirmed. Further statistical analysis indicates that the nation effect is party explained by institutional differences.© 1997 JIBS. Journal of International Business Studies (1997) 28, 759–778