Ownership-Control Discrepancy and Firm Value : Evidence from France ♣

  title={Ownership-Control Discrepancy and Firm Value : Evidence from France ♣},
  author={Sabri Boubaker},
The purpose of this study is to provide an empirical analysis of the relationship between ownership structure of French firms and their value. Using data for 510 French publicly traded firms, the current study provides evidence in support of the entrenchment hypothesis. The results show that large controlling shareholders maintaining grip on control while holding only a small fraction of cash flow rights are inclined to expropriate minority shareholders, which in turn detrimentally affects the… CONTINUE READING

From This Paper

Figures, tables, and topics from this paper.


Publications referenced by this paper.
Showing 1-10 of 52 references

Corporate Ownership around the World

Rafael La Porta, Florencio Lopez-de-Silanes, Andrei Shleifer
View 12 Excerpts
Highly Influenced

Ownership and voting power in France, in Fabrizio Barca and Marco Becht, ed.: The Control of Corporate Europe

L. Bloch, Elizabeth Kremp
View 3 Excerpts
Highly Influenced

Founding-family ownership and firm performance: Evidence from S&P 500, forthcoming

Anderson, C Ronald., David M. Reeb
Journal of Finance • 2003

Agency costs of controlling shareholders, Essays in Empirical Corporate Finance and Governance

Cronqvist, Henrik, Mattias, Nilsson
Stockholm School of Economics • 2002

Disentangling the incentive and entrenchment effects of large shareholdings

Claessens, Stijn, +5 authors Larry
H.P., • 2002

Founding family ownership and the agency cost of debt

Ronald C. Andersona, Sattar A. Mansib, David M. Reebc

Investor Protection , Ownership , and the Cost of Capital 1

Charles P. Himmelberg
View 2 Excerpts

Similar Papers

Loading similar papers…