Block Investments and the Race for Corporate Control
Corporate Ownership and Control, Vol. 2, No. 1, November 2004
26 Pages Posted: 13 Sep 2004
This paper investigates the common patterns of ownership structure across different corporate governance systems. We test the predictions of Zwiebel (1995) using ownership data of Belgian listed companies in 1995 and in 1999. Results show good applicability of the model. This empirical research relates to other contributions performing tests for Hungary, Poland, and Spain. Next the model and its limitations are discussed. The paper opens promising fields for research in ownership structure modeling adapted to corporate governance systems of Continental and Eastern Europe.
Keywords: Corporate governance, corporate control, ownership
JEL Classification: G32, G34
Suggested Citation: Suggested Citation