1 Department of International Economics and Management, Copenhagen Business School
The literature on deviations from one share-one vote seems to ignore that a difference between influence and investment, i.e., disproportionality, may exist without control enhancing mechanisms such as dual class shares. I propose a method to disentangle disproportionality and argue for its relevance. The consequences are documented on a testing data set.
Economics Letters, 2012, Vol 117, Issue 3, p. 743-745
Ownership structure; Disproportionality; Voting power; Firm value