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Liquidity and Control in Ownership Structure by Yacine Ben Rhouma is a document available to read on EtoBox.
The paper presents a dynamic theory of corporate ownership structure, focusing on the tradeoff between corporate control and secondary market liquidity. It analyzes two ownership structures: privately held firms with limited trading opportunities and publicly traded firms with unrestricted trading. The authors derive pricing formulas for each structure and discuss optimal ownership design in relation to capital market institutional structures.
- Author
- Yacine Ben Rhouma
- Language
- EN