Abstract

http://ssrn.com/abstract=439500
 
 

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Corporate Governance, Corporate Ownership, and the Role of Institutional Investors: A Global Perspective


Stuart Gillan


University of Georgia - Department of Finance

Laura T. Starks


University of Texas at Austin - Department of Finance

August 2003

Weinberg Center for Corporate Governance Working Paper No. 2003-01

Abstract:     
We examine the relation between corporate governance and ownership structure, focusing on the role of institutional investors. In many countries, institutional investors have become dominant players in the financial markets. We discuss the theoretical basis for, history of, and empirical evidence on institutional investor involvement in shareholder monitoring. We examine cross-country differences in ownership structures and the implications of these differences for institutional investor involvement in corporate governance. Although there may be some convergence in governance practices across countries over time, the endogenous nature of the interrelation among governance factors suggests that variation in governance structures will persist.

Number of Pages in PDF File: 47

Keywords: Corporate Governance, Corporate Ownership, Institutional Investors, International

JEL Classification: G30, G32, G34

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Date posted: September 27, 2003  

Suggested Citation

Gillan, Stuart and Starks, Laura T., Corporate Governance, Corporate Ownership, and the Role of Institutional Investors: A Global Perspective (August 2003). Weinberg Center for Corporate Governance Working Paper No. 2003-01. Available at SSRN: http://ssrn.com/abstract=439500 or http://dx.doi.org/10.2139/ssrn.439500

Contact Information

Stuart L. Gillan (Contact Author)
University of Georgia - Department of Finance ( email )
Terry College of Business
Athens, GA 30602-6253
United States
Laura T. Starks
University of Texas at Austin - Department of Finance ( email )
Red McCombs School of Business
Austin, TX 78712
United States
512-471-5899 (Phone)
512-471-5073 (Fax)
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