The paper examines the relationship betweenownership structure and value of the largestEuropean firms. Using simultaneous estimationand controlling for nation and industry effectswe find that ownership concentration (measuredby the fraction of ``closely held'' shares) hasa positive effect on...

The paper examines causes and effects of ownership concentration among the largest companies in 12 European countries. As a reference point the paper takes a seminal empirical study on US data and examines to what extent the model is applicable in European countries. The findings indicate that...

A number of qualitative studies have shown striking international differences in corporate governance systems. This paper presents a quantitative analysis of ownership structures among the hundred largest companies in twelve European countries. The existence of a highly significant nation effect...

This authoritative collection, edited by a leading academic in the field of international and global strategy, brings together seminal papers published in the past 30 years. Areas covered in this important volume include the emergence of a global village, the advantages of a global strategy and...

There is growing interest in corporate values but where do they come from? What factors determine corporate values? This paper argues that they are determined by corporate governance in a broad sense of the word. Three governance mechanisms are emphasized: ownership structure, board composition...

Purpose – This paper aims to test the impact of corporate governance structure on corporate values. Design/methodology/approach – The paper employs factor analysis and three‐stage least squares to identify and explain variance in corporate values. Findings – In accordance with the...