Goergen, Marc; Renneboog, Luc - Fondazione ENI Enrico Mattei (FEEM) - 1999
than 30 per cent. The ownership structure is also shaped by regulation; the mandatory takeover threshold of 30%, for … example, has an important impact on the ownership structure. In about 4% of sample companies, corporate shareholders hold just …. Therefore, the main agency conflict emerging from the diffuse ownership structure is the potential expropriation of shareholders …