This paper compares the extent of common ownership in the US and the EU stock markets, with a particular focus on differences in the ap-plicable ownership transparency requirements. Most empirical research on common ownership to date has focused on US issuers, largely relying on ownership data...

In recent years, assets of non-bank financial intermediaries (NBFIs) have grown significantly relative to those of banks. These two sectors are commonly viewed either as operating in parallel, performing different activities, or as substitutes, performing substantially similar activities, with...

Worldwide tourism is recognized by the governments as a sector with high potential for economic development and employment generation. International agencies like World Tourism Organization (WTO) have underscored the vast developmental potential of tourism particularly for the developing nations...

We argue in favour of the shareholder model of the firm for three main reasons. First, serving multiple stakeholders leads to ill-defined property rights. What sounds like a fair compromise between stakeholders can easily evolve in a permanent struggle about the ultimate goal of the company....