Thomas Kirchmaier

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In this paper, we show that ownership structures vary considerably across Europe and that ownership has a significant impact on firm performance. We observe that ownership structures in Europe are not consistent with value maximisation principles. Ultimately, our results show that dominant shareholders destroy value. These findings are in contradiction to(More)
This paper examines the ongoing changes in strategy, structure, and performance of the largest 250 non-financial firms in both Britain and Germany. To this end, publicly available firm-level data is presented at first and supplemented by the results of a questionnaire survey that was sent to the chief executives of those companies. What came through from(More)
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