This paper exploits several unique institutional features in the Dutch system of corporate control to examine the relations among investor protections, concentrated ownership, and firm performance. Four conclusions emerge. First, controlling shareholders do not appear to ameliorate corporate...

For centuries, there have been discussions as to whether only experts can judge the quality of cultural output, or whether the taste of the public also has merit. This paper tries to resolve that question empirically, using national finals of the Eurovision Song Contest. We show that experts are...