Finance and Income inequality retraced

16 Pages Posted: 1 Dec 2019 Last revised: 9 Nov 2020

See all articles by Haris Khan

Haris Khan

SDSB, Lahore University Of Maangement Sciences

Choudhry Tanveer Shehzad

SDSB, Lahore University of Managment Sciences

Abid Burki

Lahore University of Management Sciences (LUMS)

Date Written: November 15, 2019

Abstract

We show the translation of income inequality into wealth inequality, arguably via the channel of corporate financing. For 15,812 publicly listed firms operating in 41 developed and developing countries, we find robust empirical evidence of a positive impact of national income inequality on corporate wealth concentration via firm ownership concentration. This is also a contribution, through a new explanatory factor identification, to the literature on firm ownership concentration.

Keywords: Corporate finance, Distribution of wealth, Firm ownership structure, Income inequality

JEL Classification: D31, G32; G38; H23

Suggested Citation

Khan, Haris and Shehzad, Choudhry Tanveer and Burki, Abid, Finance and Income inequality retraced (November 15, 2019). Available at SSRN: https://ssrn.com/abstract=3488010 or http://dx.doi.org/10.2139/ssrn.3488010

Haris Khan (Contact Author)

SDSB, Lahore University Of Maangement Sciences ( email )

D.H.A, Lahore Cantt
Lahore, Punjab 54792
Pakistan

HOME PAGE: http://sdsb.lums.edu.pk/content/haris-khan

Choudhry Tanveer Shehzad

SDSB, Lahore University of Managment Sciences ( email )

D.H.A, Lahore Cantt
Lahore, Punjab 54792
Pakistan

Abid Burki

Lahore University of Management Sciences (LUMS)

D.H.A, Lahore Cantt
Lahore, Punjab 54792
Pakistan

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