The University of Chicago Separation of Ownership and Control SEPARATION OF OWNERSHIP AND CONTROL

This paper analyzes the survival of organizations in which decision agents do not bear a major share of the wealth effects of their decisions. This is what the literature on large corporations calls separation of ownership and control. Such…

Increasingly skeptical about the efficiency and effectiveness of formal multilateral enforcement mechanisms, a growing number of international relations theorists and international lawyers have begun to argue that states reputational concerns are…

Econds after his flash. The length of this response interval varies inversely with tem- perature. 3. The male is able to distinguish between flashes produced by the female and those produced by other males. 4. The male responds to flashes of…

We examine the separation of ownership and control for 2,980 corporations in nine East Asian countries. In all countries, voting rights frequently exceed cash-flow rights via pyramid structures and cross-holdings. The separation of ownership and…

Introduction. The concept "control."-Types of control; complete ownership, 72; majority control, 73; legal device, 74; minority control, 81; and management control, 83.-Separation of ownership and control among the 200 largest American corporations;…

For diffuse ownership to become the norm in large business enterprises, investors need to be sufficiently confident to buy shares. Will investors follow through if serious doubts exist concerning the competence of those managing companies? This…

This article investigates the implications of separation of ownership and control for board composition over a spectrum of ownership structures present in the U. S. property-liability insurance industry. We hypothesize that agency costs associated…

Although it is not doubted that "law matters," this article finds that a transition toward dispersed ownership is already well advanced and seems likely to continue, even in the short-term absence of legal change. Part I surveys this evidence, which…

We examine Harold Demsetz's prediction that property rights emerge as the benefits of doing so exceed the costs in the context of oil and gas resources in the United States. Familiar influences on the development of petroleum property rights,…

It is proposed that distinct anatomical regions of cerebral cortex and of thalamic nuclei are functionally two-dimensional On this view. the third (radial) dimension of cortical and thalamic structures is associated with a redundancy of circuits and…