The Rise & Fall of the Family Firm – A History of Corporate Governance in Canada

Posted: 27 May 2013 Last revised: 17 Jun 2013

See all articles by Randall Morck

Randall Morck

University of Alberta - Department of Finance and Statistical Analysis; National Bureau of Economic Research (NBER); European Corporate Governence Institute; Asian Bureau of Finance and Economic Research

Michael Percy

Independent

Gloria Yuan Tian

University of Lethbridge Calgary Campus; Financial Research Network (FIRN)

Bernard Yin Yeung

National University of Singapore - Business School

Date Written: November 2, 2004

Abstract

A panel of corporate ownership data, stretching back to 1902, shows that the Canadian corporate sector began the century with a predominance of large pyramidal corporate groups controlled by wealthy families or individuals. By mid-century, widely held firms predominated. But, from the 1970s on, pyramidal groups controlled by wealthy families and individuals resurge, restoring a situation similar to that a century earlier. Institutional factors underlying this resurgence are shown to have antecedents deep in the country's colonial past.

JEL Classification: G3

Suggested Citation

Morck, Randall K. and Percy, Michael and Tian, Gloria Yuan and Yeung, Bernard Yin, The Rise & Fall of the Family Firm – A History of Corporate Governance in Canada (November 2, 2004). University of Alberta School of Business Research Paper No. 2013-249; FIRN Research Paper. Available at SSRN: https://ssrn.com/abstract=2270633

Randall K. Morck (Contact Author)

University of Alberta - Department of Finance and Statistical Analysis ( email )

2-32C Business Building
Edmonton, Alberta T6G 2R6
Canada
780-492-5683 (Phone)
780-492-3325 (Fax)

National Bureau of Economic Research (NBER)

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European Corporate Governence Institute ( email )

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Belgium

Asian Bureau of Finance and Economic Research ( email )

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Singapore

Michael Percy

Independent

No Address Available

Gloria Yuan Tian

University of Lethbridge Calgary Campus ( email )

6th floor, 345 - 6 Ave SE
Calgary, Alberta T2G 4V1
Canada

Financial Research Network (FIRN)

C/- University of Queensland Business School
St Lucia, 4071 Brisbane
Queensland
Australia

HOME PAGE: http://www.firn.org.au

Bernard Yin Yeung

National University of Singapore - Business School ( email )

15 Kent Ridge Drive
BIZ 1 Level 6
Singapore, 119245
Singapore
65 6516 3075 (Phone)
65 6779 1365 (Fax)

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