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The impact of investor voting right protection on the concentration of corporation ownership of newly listed firms
Wang, Tianyu
Date: 2012
Type: Text
Abstract:
Investor voting rights protection is a significant part of corporate governance, and as such it provides issues to the controlling families and their relationship to minority shareholders. This paper studies the relationship of ownership concentration in the companies that have recent IPO's and minority shareholder protection to try to provide an explanation of the relationship between these two factors. The author draws on panel data on corporate ownership for firms that entered the market in the last 5 years in eight developed countries and areas. The data for the firms tend to have concentrated ownership regardless of the level of investor protection.