Value

Working Paper

The Principle of Proportional Ownership, Investor Protection and Firm Value in Western Europe

Previous research initiated by Claessens et al. (2002) has established a value discount of disproportional ownership structures. Due to omitted variables problems it is difficult to provide a causal interpretation of these findings. We provide a...Read more

Morten Bennedsen
01 October 2006

Corporate Governance and Regulation: Can There be too Much of a Good Thing?

We investigate how company-level corporate governance practices and country-level legal investor protection jointly affect company performance. We find that in any legal regime a few specific governance practices improve performance. Companies...Read more

Valentina Giulia Bruno
Stijn Claessens
01 October 2006

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