Large shareholders and accounting research
Large shareholders are a potentially very important element of firms’ corporate governance system. Whereas analytical research is typically vague on who these large shareholders are, in practice there are important variations in the types of large owners (and the different types of large owners coul...
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| Format: | Article |
| Language: | English |
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Elsevier
2013-03-01
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| Series: | China Journal of Accounting Research |
| Subjects: | |
| Online Access: | http://www.sciencedirect.com/science/article/pii/S1755309112000445 |
| _version_ | 1818488179414532096 |
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| author | Ole-Kristian Hope |
| author_facet | Ole-Kristian Hope |
| author_sort | Ole-Kristian Hope |
| collection | DOAJ |
| description | Large shareholders are a potentially very important element of firms’ corporate governance system. Whereas analytical research is typically vague on who these large shareholders are, in practice there are important variations in the types of large owners (and the different types of large owners could play very different governance roles). After briefly reviewing the standard agency cost arguments, in this article I emphasize the heterogeneity of concentrated ownership and in particular focus on the roles of families, institutions, governments, and employee ownership. I also discuss the role of large shareholders in private (i.e., unlisted) firms, where ownership tends to be more concentrated than in publicly traded firms. Finally, I briefly discuss variations in ownership structures across selected countries. |
| first_indexed | 2024-12-10T16:47:46Z |
| format | Article |
| id | doaj.art-e76d265b72f94849b4e3050529649253 |
| institution | Directory Open Access Journal |
| issn | 1755-3091 |
| language | English |
| last_indexed | 2024-12-10T16:47:46Z |
| publishDate | 2013-03-01 |
| publisher | Elsevier |
| record_format | Article |
| series | China Journal of Accounting Research |
| spelling | doaj.art-e76d265b72f94849b4e30505296492532022-12-22T01:41:00ZengElsevierChina Journal of Accounting Research1755-30912013-03-016132010.1016/j.cjar.2012.12.002Large shareholders and accounting researchOle-Kristian HopeLarge shareholders are a potentially very important element of firms’ corporate governance system. Whereas analytical research is typically vague on who these large shareholders are, in practice there are important variations in the types of large owners (and the different types of large owners could play very different governance roles). After briefly reviewing the standard agency cost arguments, in this article I emphasize the heterogeneity of concentrated ownership and in particular focus on the roles of families, institutions, governments, and employee ownership. I also discuss the role of large shareholders in private (i.e., unlisted) firms, where ownership tends to be more concentrated than in publicly traded firms. Finally, I briefly discuss variations in ownership structures across selected countries.http://www.sciencedirect.com/science/article/pii/S1755309112000445Large shareholdersAgency costsControlling ownersMinority ownersPrivate firmsInternational |
| spellingShingle | Ole-Kristian Hope Large shareholders and accounting research China Journal of Accounting Research Large shareholders Agency costs Controlling owners Minority owners Private firms International |
| title | Large shareholders and accounting research |
| title_full | Large shareholders and accounting research |
| title_fullStr | Large shareholders and accounting research |
| title_full_unstemmed | Large shareholders and accounting research |
| title_short | Large shareholders and accounting research |
| title_sort | large shareholders and accounting research |
| topic | Large shareholders Agency costs Controlling owners Minority owners Private firms International |
| url | http://www.sciencedirect.com/science/article/pii/S1755309112000445 |
| work_keys_str_mv | AT olekristianhope largeshareholdersandaccountingresearch |