The Rise & Fall of the Family Firm – A History of Corporate Governance in Canada
Posted: 27 May 2013 Last revised: 17 Jun 2013
Date Written: November 2, 2004
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: Suggested Citation