On the size of a Controlling Share-holding

A large number of empirical studies have examined the question of the divorce between ownership and control as to either its extent (following Berle and Means (1932) or its implications for behaviour (following Marris (1964)). These studies have used different samples, different variables and have employed very different criteria to decide on the location of control within each corporation. In addition there appears to be considerable confusion over nomenclature, in particular the meaning of the phrase "owner-controlled". It is therefore not surprising that they come to different conclusions on both questions.