Roosenboom, Roosenboom, P.G.J.; Schramade, Schramade, W.L.J. - Erasmus Research Institute of Management (ERIM), … - 2005
Going public often creates an agency conflict between the owner-manager and minority shareholders. This problem is especially severe in countries with poor legal investor protection, such as France. We examine the controlling position of owner-managers in French IPO firms. We find that investors...