Keeping it real or keeping it simple? Ownership concentration measures compared

• Based on a sample of 240 Swedish firms listed at the Stockholm Stock Exchange as of year-end 2008 we analyze measures of ownership concentration found in past governance literature. We find that although measures are significantly correlated, they show different distributional properties. We also identify the best underlying distribution for each concentration measure, and we are able to distinguish between measures in terms of what dimensions of ownership they describe. Finally, we document that inferences regarding the association between ownership concentration and firm performance are contingent on the choice of concentration measure.

Ämnesord

SAMHÄLLSVETENSKAP  -- Ekonomi och näringsliv (hsv//swe)

SOCIAL SCIENCES  -- Economics and Business (hsv//eng)

NATURVETENSKAP  -- Matematik -- Sannolikhetsteori och statistik (hsv//swe)

NATURAL SCIENCES  -- Mathematics -- Probability Theory and Statistics (hsv//eng)

Nyckelord

Ownership concentration measures

Sweden

Publikations- och innehållstyp

ref (ämneskategori)

kon (ämneskategori)