Oxford Review of Economic Policy volume 36, issue 2, P258-274 2020 DOI: 10.1093/oxrep/graa009 View full text
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Julian Franks

Abstract: Abstract This paper describes different forms of ownership across countries and how these forms influence the way companies are governed. In most stock markets in the world, listed companies frequently have a controlling shareholder, usually a family. However, Japan, the UK, and to a lesser extent the US, are exceptions. In these three countries, ownership is frequently highly fragmented, where share stakes are held by different institutional owners, including asset managers, both active and pas…

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