Jump to ContentJump to Main Navigation
International FinanceA Survey$
Users without a subscription are not able to see the full content.

H. Kent Baker and Leigh A. Riddick

Print publication date: 2012

Print ISBN-13: 9780199754656

Published to Oxford Scholarship Online: May 2013

DOI: 10.1093/acprof:oso/9780199754656.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 14 April 2021

Differences in Ownership Structures across Countries

Differences in Ownership Structures across Countries

(p.569) 27 Differences in Ownership Structures across Countries
International Finance


Oxford University Press

This chapter summarizes stylized facts on corporate ownership and control structures around the world and their impact on managerial decisions and firm performance. Recent literature suggests that family control and pyramidal business groups are the two distinct organizational characteristics prevalent outside the United States and the United Kingdom. An important explanatory factor is the quality of investor protection, which determines the degree of private benefit extraction by the controlling party. Pyramidal business groups extend the boundaries of a firm beyond a single legal entity, raising challenges in disentangling group-level effect from other firm-level factors.

Keywords:   ownership and control, business groups, pyramids, cashflow-control disparity, private benefits, family firms

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .