Ownership: Evolution and regulation

Review of Financial Studies

Volumn 22, Issue 10, 2009, Pages 4009-4056

  Franks, Julian ^a,d   Mayer, Colin ^b   Rossi, Stefano ^c  

^a CEPR   (United Kingdom)

^b UNIVERSITY OF OXFORD   (United Kingdom)

^c STOCKHOLM SCHOOL OF ECONOMICS   (Sweden)

^d LONDON BUSINESS SCHOOL   (United Kingdom)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 62649173895     PISSN: 08939454     EISSN: 14657368     Source Type: Journal    
DOI: 10.1093/rfs/hhn108     Document Type: Article

References (66)

1. Banfield, E. C. 1958. The Moral Basis of a Backward Society. New York: Free Press.
2. Barclay, M., and C. Holderness. 1989. Private Benefits of Control of Public Corporations. Journal of Financial Economics 25:371-395
3. Becht, M., and C. P. Mayer. 2001. Introduction. In Fabrizio Barca, and Marco Becht (eds.), The Control of Corporate Europe. Oxford: Oxford University Press.
4. Beck, T., A. Demirgüç-Kunt, and R. Levine. 2003. Law and Finance: Why Does Legal Origin Matter? Journal of Comparative Economics 31:653-675
5. Berle, A. A., and G. C. Means. 1932. The Modern Corporation and Private Property. New York: Macmillan.
6. Cairncross, A. K. 1958. The English Capital Market before 1914. Economica 25:142-146
7. Cheffins, B. 2002. Putting Britain on the Roe Map: The Emergence of the Berle-Means Corporation in the United Kingdom. In J. A. McCahery et al. (eds.), Corporate Governance Regimes: Convergence and Diversity, pp. 147-172 Oxford: Oxford University Press.
8. Code Holland, R. H., and J. N. Werry, eds. 1932. Poley's Law and Practice of the Stock Exchange. London: Sir Isaac Pitman.
9. Coffee, J. C. Jr. 2001. The Rise of Dispersed Ownership: The Roles of the Law and the State in the Separation of Ownership and Control. Yale Law Journal 111:1-82.
10. Cohen Committee Report. 1945. Report of the Committee on Company Law Amendment. Cmd 6659, HMSO, London.
11. Coleman, J. S. 1990. Foundations of Social Theory. Cambridge: Harvard University Press.
12. Davies, P. L., ed. 1979. Gower's Principles of Modern Company Law, 4th ed. London: Stevens.
13. Davies, P. L. 2002. Introduction to Company Law: Clarendon Law Series. Oxford: Oxford University Press.
14. Degryse, H., and S. Ongena. 2005. Distance, Lending Relationships and Competition. Journal of Finance 60:231-266
15. Djankov, S., R. La Porta, F. Lopez-de-Silanes, and A. Shleifer. 2008. The Law and Economics of Self-Dealing. Journal of Financial Economics 88:430-465
16. Dyck, I. J. A., and L Zingales. 2004. Private Benefits of Control: An International Comparison. Journal of Finance 59:537-600.
17. Florence, P. S. 1947. Proceedings of the First Ordinary Meeting of the Session, 1946-47, Held on November 27, 1946, the President, the Rt. Hon. LordWoolton, P. C., C. H., in the Chair. Journal of the Royal Statistical Society 110:1-26.
18. Florence, P. S. 1953. The Logic of British and American Industry. London: Routledge & Kegan Paul.
19. Florence, P. S. 1961. Ownership, Control and Success of Large Companies: An Analysis of English Industrial Structure and Policy, 1936-1951. London: Sweet and Maxwell.
20. Franks, J. R., and C. P. Mayer. 2001. Ownership and Control of German Corporations. Review of Financial Studies 14:943-977
21. Franks, J. R., C. P. Mayer, and H. Miyajima. 2008. Equity Markets and Institutions: The Case of Japan.Working Paper, London Business School.
22. Franks, J. R., C. P. Mayer, and L. Renneboog. 2001. Who Disciplines Management in Poorly Performing Companies? Journal of Financial Intermediation 10:209-248
23. Franks, J. R., C. P. Mayer, and S. Rossi. 2005. Spending Less Time with the Family: The Decline of Family Ownership in the U.K. In R. K. Morck (ed.), A History of Corporate Governance Around the World: Family Business Groups to Professional Managers, pp. 581-607. Chicago: NBER and University of Chicago Press.
24. Franks, J. R., C. P. Mayer, and H. Wagner. 2006. The Origins of the German Corporation: Finance, Ownership and Control. Review of Finance 10:537-585
25. Gomes, A. 2000. Going PublicWithout Governance: Managerial Reputation Effects. Journal of Finance 55:615-646
26. Greene Committee Report. 1925. The Company Law Amendment Committee Report. Cmd 2657, HMSO, London.
27. Greif, A. 1993. Contract Enforceability and Economic Institutions in Early Trade: The Maghribi Traders Coalition. American Economic Review 83:525-548
28. Grinblatt, M., and M.Keloharju. 2001. HowDistance, Language and Culture Influence Stockholdings and Trades. Journal of Finance 56:1053-1073 (Pubitemid 33581674)
29. Grossman, S., and O. Hart. 1986. The Costs and Benefits of Ownership: A Theory of Vertical and Lateral Integration. Journal of Political Economy 94:691-719
30. Guiso, L., P. Sapienza, and L. Zingales. 2004. Does Local Financial Development Matter? Quarterly Journal of Economics 119:929-969
31. Guiso, L., P. Sapienza, and L. Zingales. 2007. Cultural Biases in Economic Exchange.Working Paper, University of Chicago.
32. Hannah, L. 1974. Takeover Bids in Britain before 1950: An Exercise in Business "Pre-history." Business History 16:65-77.
33. Hannah, L. 1976. The Rise of the Corporate Economy. London: Methuen.
34. Hart, O., and J. Moore. 1990. Property Rights and the Theory of the Firm. Journal of Political Economy 98:1119-1158
35. Hart, P., and S. Prais. 1956. The Analysis of Business Concentration: A Statistical Approach. Journal of the Royal Statistical Society 119:150-191
36. Hoffman, L. H. H. 1999. Foreword to Hollington, R., Minority Shareholders' Rights. London: Sweet and Maxwell.
37. Holderness, C. 2007. The Myth of Diffuse Ownership in the United States. Review of Financial Studies. Advance Access published on December 10, 2007. 10.1093/rfs/hhm069.
38. Holderness, C., R. Kroszner, and D. Sheehan. 1999.Were the Good Old Days That Good? Changes inManagerial Stock Ownership since the Great Depression. Journal of Finance 54:435-469
39. Hong, H., J. D. Kubik, and J. C. Stein. 2004. Social Interactions and Stock-Market Participation. Journal of Finance 59:137-163
40. Jenkinson, T., and A. Ljungqvist. 2001. The Role of Hostile Stakes in German Corporate Governance. Journal of Corporate Finance 7:397-446
41. Kreps, D., and R.Wilson. 1982. Reputation and Imperfect Information. Journal of Economic Theory 27:253-279
42. La Porta, R., F. Lopez-de-Silanes, and A. Shleifer. 1999. Corporate Ownership around the World. Journal of Finance 54:471-517.
43. La Porta, R., F. Lopez-de-Silanes, and A. Shleifer. 2006. What Works in Securities Laws? Journal of Finance 61:1-32.
44. La Porta, R., F. Lopez-de-Silanes, A. Shleifer, and R.W. Vishny. 1997. Legal Determinants of External Finance. Journal of Finance 52:1131-1150
45. La Porta, R., F. Lopez-de-Silanes, A. Shleifer, and R. W. Vishny. 1998. Law and Finance. Journal of Political Economy 101:678-709.
46. Larner, R. J. 1966. Ownership and Control in the 200 Largest Nonfinancial Corporations, 1929 and 1963. American Economic Review 56:777-787
47. Lavington, F. 1921. The English Capital Market. London: Methuen. Mauro, P., and Y. Yafeh. 2003. The Corporation of Foreign Bondholders.Working Paper, InternationalMonetary Fund.
48. May, W. 1939. Financial Regulation Abroad: The Contrasts with American Technique. Journal of Political Economy 47:457-496
49. Meeks, G., and G. Whittington. 1975. Giant Companies in the United Kingdom, 1948-69. Economic Journal 85:824-843
50. Michie, R. C. 1999. The London Stock Exchange: A History. Oxford: Oxford University Press.
51. Milgrom, P., and J. Roberts. 1982. Predation, Reputation, and Entry Deterrence. Journal of Economic Theory 27:280-312.
52. Morgan, E. V., and W. A. Thomas. 1962. The Stock Exchange: Its History and Functions. London: Elek Books.
53. North, D. C., and B. R.Weingast. 1989. Constitutions and Commitment: The Evolution of Institutional Governing Public Choice in Seventeenth-Century England. Journal of Economic History 49:803-832
54. Nyman, S., andA. Silberston. 1978. The Ownership and Control of Industry. Oxford Economic Papers 30:74-101.
55. Paish, F. W. 1951. The London New Issue Market. Economica 28:1-17.
56. Petersen, M. A., and R. G. Rajan. 1994. The Benefits of Lending Relationships: Evidence from Small Business Data. Journal of Finance 49:3-37.
57. Petersen, M. A., and R. G. Rajan. 2002. Does Distance Still Matter? The Information Revolution in Small Business Lending. Journal of Finance 57:2533-2570
58. Rajan, R. G., and L. Zingales. 2003. The Great Reversals: The Politics of Financial Development in the 20th Century. Journal of Financial Economics 69:5-50.
59. Roberts, R. 1992. Regulatory Responses to the Rise of the Market for Corporate Control in Britain in the 1950s. Business History 34:183-200.
60. Roe, M. J. 1994. Strong Managers,Weak Owners: The Political Roots of American Corporate Finance. Princeton, NJ: Princeton University Press.
61. Rossi, S., and P. Volpin. 2004. Cross-Country Determinants of Mergers and Acquisitions. Journal of Financial Economics 74:277-304.
62. Schwabe,W. S., and G. A. H. Branson. 1913. A Treatise on the Laws of the Stock Exchange. London: Butterworth.
63. Sealy, L. 1984. Company Law and Commercial Reality. Sweet & Maxwell, London.
64. Spagnolo, G. 1999. Social Relations and Cooperation in Organizations. Journal of Economic Behavior and Organization 38:1-25.
65. Thomas, W. A. 1973. The Provincial Stock Exchanges. London: Frank Cass.
66. White, H. S. 1980. A Heteroskedasticity-Consistent Covariance Matrix Estimator and a Direct Test for Heteroskedasticity. Econometrica 48:817-838