Working Paper

Controlling Shareholders in the Twenty-First Century: Complicating Corporate Governance Beyond Agency Costs

By the end of the twentieth century, the then-dominant literature on “law and finance” assumed that concentrated ownership was a product of deficient legal systems that did not sufficiently protect outside investors. At the same time,...Read more

Mariana Pargendler
13 December 2019

Evolution of Ownership and Control Around the World: The Changing Face of Capitalism

This chapter documents the evolution of ownership and control of firms around the world over a hundred year period from the beginning of the 20th century to today. It records the substantial changes that have taken place in the nature of stock...Read more

Julian Franks
Colin Mayer
13 December 2019