Large Shareholders, Monitoring, and the Value of the Firm
We propose that dispersed outside ownership and the resulting managerial discretion come with costs but also with benefits. Even when tight control by shareholders is ex post ef...
Publications
View AllThe Choice of Stock Ownership Structure: Agency Costs, Monitoring, and the Decision to Go Public
From the viewpoint of a company's controlling shareholder, the optimal ownership structure generally involves some measure of dispersion, to avoid excessive monitoring by other ...
Why Do Companies Go Public? An Empirical Analysis
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The Time Variation of Risk and Return in the Foreign Exchange and Stock Markets
ABSTRACT This paper attempts to determine whether the fluctuations of conditional first and second moments—which are observed for many assets—are consistent with the Sharpe‐Lint...
The Scorecard on Globalization 1980–2000: Its Consequences for Economic and Social Well-Being
The era of globalization has brought substantially less progress than was achieved in the preceding 20 years. This study by the Center for Economic and Policy Research concludes...
Why Do Companies Go Public? An Empirical Analysis
Abstract The decision to go public is one of the most important and least studied questions in corporate finance. Most corporate finance textbooks limit themselves to describing...
Affiliated Researchers
Institution Info
- Type
- nonprofit
- Country
- US
- Publications
- 6
- Citations
- 3,041
External Links
Identifiers
- ROR
- https://ror.org/01vqjmx11