LATEST PUBLICATIONS
PN 2022-02
How Can DSWD's Social Pension Program for Indigent Senior Citizens be Improved?
RPS 2022-01
How Does the Philippines Fare in Meeting the ASEAN Economic Community Vision 2025?
PJD 2022 Vol. 46 No. 1d
Surveying the Extent and Wage Consequences of Education-Job Mismatches in the Philippine Labor Market
PJD 2022 Vol. 46 No. 1c
Disentangling the Effects of Maternal Employment on Child Stunting in the Philippines

LATEST AV MATERIALS
PIDS WB 2021-1201
Analyzing the President's Budget for 2022
GIZ-FFS-2020-01
WASHaLOT 3.0: Production Process
GIZ-FFS-2021-03
WASHaLOT 3.0 Mass Production
GIZ-FFS-2021-02
Minimum Requirement Guidelines on WASH in Schools
Publication Detail
WPS 2054: Who controls East Asian corporations?

The authors identify the ultimate ownership structure for 2,980 corporations in nine East Asian countries. They find that: A) More than half of those firms are controlled be a single shareholder. B) Smaller firms and older firms are more likely to be family-controlled. C) Patterns of controlling ownership stakes differ across countries. The concentration of control generally diminishes with higher economic and institutional development. D) In many countries control is enhanced though pyramid structures and deviations from one-share-one-vote rules. As a result, voting rights exceed cash-flow rights. E) Management is rarely separated from ownership control, and management in two thirds of the firms that are not widely held is related to management of the controlling shareholder. F) In some countries, wealth is very concentrated and links between government and business are extensive, so the legal system has probably been influenced by the prevailing ownership structure.

World Bank
Authors Keywords
Claessens, Stijn; Djankov, Simeon; Lang, Larry H. P.; financial market; financial sector; financial system; small and medium enterprises (SMEs);
Download PDF Number of Downloads
Published in 0 and available for Downloaded 304 times since November 25, 2011
×
Please let us know your reason for downloading this publication. May we also ask you to provide additional information that will help us serve you better? Rest assured that your answers will not be shared with any outside parties. It will take you only two minutes to complete the survey. You will answer the profile questions only once as long as you enter the same email address. Thank you.


To use as reference:
If others, (Please specify):
Name: (optional)
Email: (required, but will not display; please use the same email address when downloading another publication so that the profile questions will not appear)
Age:
Gender:
If Prefer to self-describe, please specify:
Level of Education:
Occupation:
If employed either part-time or full-time, name of office:
If others, (Please specify):
Would you like to receive the SERP-P UPDATES e-newsletter? Yes No
Use the space below if you have any comment about this publication or SERP-P knowledge resources in general.