Business, Management and Accounting
4 years ago

Dividends reveal insider expropriation in global corporations, impacting shareholder rights.

2 views
American Economic Review
Dividends and Expropriation
Mara Faccio, Larry H.P. Lang, Leslie Young

Paper Summary

The article discusses how family-controlled businesses in Europe and Asia can take advantage of outside shareholders. Dividends are used to show this, with European companies paying more to prevent insider abuse, while Asian companies pay less. Having multiple large shareholders helps in Europe but hurts in Asia.

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