Propiedad y blindaje de las empresas cotizadas españolas. 1996-2002 (Ownership and Defence Tactics in Spanish Listed Firms. 1996–2002)

51 Pages Posted: 2 Apr 2019

See all articles by Domingo Javier Santana Martín

Domingo Javier Santana Martín

University of Las Palmas de Gran Canaria

Inmaculada Aguiar-Díaz

University of Las Palmas de Gran Canaria

Date Written: 2004

Abstract

This paper examines the ownership structure and defence measures of Spanish listed companies, to determine the identity and equity stakes of their key shareholders and the extent of their takeover protection. Among its most striking findings is the power exercised by family groups, which at end 2002 controlled 52.7 percent of non financial listed companies. On the defensive front, the study detected a clear trend towards greater use of anti-takeover measures.

Note: Downloadable Document is in Spanish.

Suggested Citation

Martín, Domingo Javier Santana and Aguiar-Díaz, Inmaculada, Propiedad y blindaje de las empresas cotizadas españolas. 1996-2002 (Ownership and Defence Tactics in Spanish Listed Firms. 1996–2002) (2004). CNMV Working Paper No. 5.2004, Available at SSRN: https://ssrn.com/abstract=3364574 or http://dx.doi.org/10.2139/ssrn.3364574

Domingo Javier Santana Martín (Contact Author)

University of Las Palmas de Gran Canaria ( email )

C/Juan de Quesada, No. 30
Las Palmas de Gran Canaria, Las Palmas 35017
Spain

Inmaculada Aguiar-Díaz

University of Las Palmas de Gran Canaria ( email )

Campus de Tafira
35017 Las Palmas, Las Palmas 35017
Spain

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