Firm value and ownership structure in the Spanish capital market

@inproceedings{GarcaMeca2011FirmVA,
  title={Firm value and ownership structure in the Spanish capital market},
  author={Emma Garc{\'i}a-Meca and Juan Pedro S{\'a}nchez-Ballesta},
  year={2011}
}
Purpose – This study aims to examine the effects on Tobin’s Q of various dimensions of the Spanish ownership structure likely to represent conflicting interests: ownership concentration, insider ownership and bank ownership. Design/methodology/approach – The sample of firms is drawn from the population of Spanish non-financial firms listed on the Madrid Stock Exchange during 1999-2002. This paper uses data that have both cross-sectional and time variation, which allows us to control for… CONTINUE READING

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