Industry and Ownership Structure

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    The paper examines the relationship between main industry and corporate ownership structures using a unique database covering the 100 largest companies in each of 12 European countries. The predictive power of economic ownership theory is tested and generally supported. We find evidence that industry affiliation has a significant effect on ownership structure after controlling for national differences. The industry effect is found to be related to differences in firm size, industry growth, earnings volatility, capital, and research intensity.
    Original languageEnglish
    JournalInternational Review of Law and Economics
    Issue number4
    Pages (from-to)385-402
    Number of pages18
    Publication statusPublished - 1998

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