Abstract
A number of qualitative studies have shown striking international differences in corporate governance systems. This paper presents a quantitative analysis of ownership structures among the hundred largest companies in twelve European countries. The existence of a highly significant nation effect is confirmed. Further statistical analysis indicates that the nation effect is party explained by institutional differences.
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*Torben Pedersen (Ph.D., Copenhagen Business School) is an Associate Professor at the Department of International Economics and Management, Copenhagen Business School. His research interests include international corporate governance, foreign direct investment and subsidiary strategies.
**Steen Thomsen is Associate Professor at the Department of International Economics and Management, Copenhagen Business School. He holds a Ph.D. from Copenhagen Business School. His research is currently focused on international corporate governance and industrial organisation.
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Pedersen, T., Thomsen, S. European Patterns of Corporate Ownership: A Twelve-Country Study. J Int Bus Stud 28, 759–778 (1997). https://doi.org/10.1057/palgrave.jibs.8490118
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DOI: https://doi.org/10.1057/palgrave.jibs.8490118