Post by Randall on Jun 24, 2013 6:54:14 GMT 4
The Rise & Fall of the Family Firm – A History of Corporate Governance in Canada
Randall Morck
University of Alberta - Department of Finance and Statistical Analysis; National Bureau of Economic Research (NBER)
Michael Percy
University of Alberta - School of Business
Gloria Yuan Tian
University of New South Wales, Australian School of Business, School of Banking and Finance; Financial Research Network (FIRN)
Bernard Yin Yeung
National University of Singapore - Business School
November 2, 2004
University of Alberta School of Business Research Paper No. 2013-249
FIRN Research Paper
Abstract:
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.
papers.ssrn.com/sol3/papers.cfm?abstract_id=2270633
Randall Morck
University of Alberta - Department of Finance and Statistical Analysis; National Bureau of Economic Research (NBER)
Michael Percy
University of Alberta - School of Business
Gloria Yuan Tian
University of New South Wales, Australian School of Business, School of Banking and Finance; Financial Research Network (FIRN)
Bernard Yin Yeung
National University of Singapore - Business School
November 2, 2004
University of Alberta School of Business Research Paper No. 2013-249
FIRN Research Paper
Abstract:
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.
papers.ssrn.com/sol3/papers.cfm?abstract_id=2270633