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The paper develops a simple model of optimal corporate ownership structure in which costs and benefits of ownership concentration are analysed.
Persistent link: https://www.econbiz.de/10005481735
The paper develops a theory of ownership structure based on the notion that corporate control and secondary market liquidity are not perfectly compatible with each other. We analyse the tradeoff between these two objectives for two different ownership structures: the privately held firm, which...
Persistent link: https://www.econbiz.de/10005292670