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The separation of ownership and control in east Asian corporations (from Journal of Financial Economics, 1999)
Bibliografi
Author:
Claessens, Stijn
;
Djankov, Simeon
;
Lang, Larry H. P.
Topik:
Ownership
;
Control
;
East Asian corporations.
Bahasa:
(EN )
Tahun Terbit:
1999
Jenis:
Article - diterbitkan di jurnal ilmiah internasional
Fulltext:
The Separation of Ownership and Control in East Asian Corporations.pdf
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)
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Abstract
We examine the separation of ownership and control for 2,980 corporations in nine East Asian countries. In all countries, voting rights frequently exceed cash-flow rights via pyramid structures and cross-holdings. The separation of ownership and control is most pronounced among family-controlled firms and small firms. More two-thirds of firms are controlled by a single shareholder. Managers of closely held firms tend to be relatives of the controlling shareholder’s family. Older firms are generally family-controlled, dispelling the notion that ownership becomes dispersed over time. Finally, significant corporate wealth in East Asia is concentrated among a few families.
Related courses
MAN 615 - ETIKA BISNIS & TATA KELOLA ORGANISASI (Bacaan Anjuran)
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