Busta, Ilduara; Sinani, Evis; Thomsen, Steen - In: Journal of Management and Governance 18 (2014) 1, pp. 159-183
This paper investigates the relationship between ownership concentration and market value of European banks, and the … banks over a 13-year period (1993–2005) we find on average a negative effect of ownership concentration on bank value …, measured by Tobin's Q. However, this effect varies across different institutional settings; while higher ownership …