Gugler, Klaus; Ivanova, Natalia; Zechner, Josef - In: Journal of Corporate Finance 26 (2014) C, pp. 145-163
across countries. This allows us to observe the evolution of ownership and control after an initial shock. We utilize this … Tobin's q than the firms managed by their controlling shareholders. Concerning the determinants of ownership, large … individual shareholders substitute for missing good country governance institutions, and ownership is very sticky, since initial …