Industry and Ownership Structure

Steen Thomsen; Torben Pedersen

doi:10.1016/S0144-8188(98)00022-2

Industry and Ownership Structure

Steen Thomsen, Torben Pedersen

Aarhus School of Business

Research output: Contribution to journal › Journal article › Research › peer-review

Abstract

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 language	English
Journal	International Review of Law and Economics
Volume	18
Issue number	4
Pages (from-to)	385-402
Number of pages	18
ISSN	0144-8188
DOIs	https://doi.org/10.1016/S0144-8188(98)00022-2
Publication status	Published - 1998

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abstract = "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.",

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AB - 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.

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U2 - 10.1016/S0144-8188(98)00022-2

DO - 10.1016/S0144-8188(98)00022-2

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