Equity Ownership and Firm Value in Emerging Markets

By K. Lins. Journal of Financial and Quantitative Analysis, 2003

1,250 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/472e0521f64c41e5d4e81bbd17cfd4db69f21740

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Citations in the corpus

Socially Responsible Firms (2016, background): “…can establish control over firms with only minimal cash-flow rights (ownership) when a deviation from the ‘one share, one vote’ rule applies (La Porta et al., 1999; Bebchuk, Kraakman, & Triantis, 2000; Classens, Djankov, and Lang, 2000; Claessens et al., 2002; Faccio and Lang, 2002; Lins, 2003).”
Family Business Groups around the World: Financing Advantages, Control Motivations and Organizational Choices (2011, background): “…TABLE VII HERE] 36 The results show that both Q and ROA are significantly lower for family group firms (and similarly for non-family group firms) than for non-group firms in most specifications.38 This result is comparable to those reported by Claessens et al. (2002) and Lemmon and Lins (2003).”
Large Shareholder Entrenchment and Performance: Empirical Evidence from Canada (2008, neutral): “(1999) and other studies (Claessens et al., 2000; Faccio and Lang, 2002; Lins, 2003; and Attig and Gadhoum, 2003) also show”
Multiple large shareholders, excess leverage and tunneling: evidence from an emerging market (2017, neutral): “Prior literature in finance and corporate governance have predominantly applied the traditional Jensen and Meckling (1976) conceptualization of principal-agent conflicts to explain a firm’s financing decisions and value (Lins, 2003; Zweiebel, 1996; Berger et al., 1997; Chan et al., 2014).”
The Long-Term Effects of Cross-Listing, Investor Recognition, and Ownership Structure on Valuation (2006, background): “Baker, Nofsinger, and Weaver (2002) and Lang, Lins, and Miller (2003) also show that cross-listed firms experience an increase in media visibility and analyst following, both of which are associated with a decrease in the cost of equity capital after the listing.”
Controlling Shareholders and Corporate Value: Evidence from Thailand (2001, methodology): “The results are similar to Claessens et al. (2000a), Lins (2000) and Yeh and Lee (2000).”
Corporate Governance and Development (2006, neutral): “Wealthy, powerful families dominate the ownership of most corporations in emerging markets (Claessens, Djankov, and Lang 2000; Lins 2003).”
Is Corporate Diversification Beneficial in Emerging Markets (2002, neutral): “The first definition assumes that all control rights held indirectly translate into full cash flow rights for those cases in which we cannot trace cash flow 10 See Lins (2001) for a detailed appendix that lists ownership sources.”