Scandinavian Working Papers in Economics

Working Papers,
Copenhagen Business School, Department of Economics

No 15-2000: AN ECONOMIC ANALYSIS OF INVESTOR PROTECTION IN CORPORATIONS WITH CONCENTRATED OWNERSHIP

Morten Bennedsen and Daniel Wolfenzon
Additional contact information
Morten Bennedsen: Department of Economics, Copenhagen Business School, Postal: Department of Economics, Copenhagen Business School, Solbjerg Plads 3 C, 5. sal, DK-2000 Frederiksberg, Denmark
Daniel Wolfenzon: Michigan Business School, Postal: Chicago Business School

Abstract: We provide a theoretical analysis of the relationship between investor protection and the performance of corporations with concentrated ownership and apply it to analyze two types of investor protection. First, we analyze the cost and benefits of imposing super-majority requirements on certain important policy issues in the corporation. Second, we analyze why it can be in the interest of the corporation to impose restrictions on the free transferability of shares.

Keywords: Investor protection; Concentrated ownership; Corporate performance

JEL-codes: G31

28 pages, December 1, 2000

Full text files

7551  

Download statistics

Questions (including download problems) about the papers in this series should be directed to Lars Nondal ()
Report other problems with accessing this service to Sune Karlsson ().

This page generated on 2018-01-23 23:31:11.