Corporate Governance, Shareholder Structures and Value Creation

Harbula, Péter

doi:10.2139/ssrn.1925045

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Corporate Governance, Shareholder Structures and Value Creation

49 Pages Posted: 12 Sep 2011

See all articles by Péter Harbula

Péter Harbula

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There are 2 versions of this paper

Date Written: September 1, 2011

Abstract

This paper analyzes the interaction between shareholder structures and the quality of the corporate governance structure in France using the value creation criterion. Using shareholder structures allows analyzing the performance of French firms and to measure an underperformance of “hard core” and diffuse ownership firms. This paper, updating results from Harbula (2004), also investigates the relationship between performance and shareholder stakes.

Keywords: Corporate governance, value creation (EVA, CFROI), enterprise performance, shareholder structures

JEL Classification: G32, G34

Suggested Citation: Suggested Citation

Harbula, Péter, Corporate Governance, Shareholder Structures and Value Creation (September 1, 2011). Available at SSRN: https://ssrn.com/abstract=1925045 or http://dx.doi.org/10.2139/ssrn.1925045