Laws vs. Contracts: Legal Origins, Shareholder Protections, and Ownership Concentration in Brazil, 1890-1950

2008 ◽  
Author(s):  
Aldo Musacchio
2005 ◽  
pp. 53-68 ◽  
Author(s):  
R. Kapeliushnikov ◽  
N. Demina

The paper provides new survey evidence on effects of concentrated ownership upon investment and performance in Russian industrial enterprises. Authors trace major changes in their ownership profile, assess pace of post-privatization redistribution of shareholdings and provide evidence on ownership concentration in the Russian industry. The major econometric findings are that the first largest shareholding is negatively associated with the firm’s investment and performance but surprisingly the second largest shareholding is positively associated with them. Moreover, these relationships do not depend on identity of majority shareholders. These results are consistent with the assumption that the entrenched controlling owners are engaged in extracting "control premium" but sizable shareholdings accumulated by other blockholders may put brakes on their expropriating behavior and thus be conductive for efficiency enhancing. The most interesting topic for further more detailed analysis is formation, stability and roles of coalitions of large blockholders in the corporate sector of post-socialist countries.


2014 ◽  
Author(s):  
Pichaphop Chalermchatvichien ◽  
Seksak Jumreonwong ◽  
Pornsit Jiraporn

2020 ◽  
Author(s):  
Fariborz Moshirian ◽  
Nguyen Thi Thuy ◽  
Jin Yu ◽  
Bohui Zhang

Author(s):  
Jens Meierhenrich

What for many years was seen as an oxymoron—the notion of an authoritarian rule of law—no longer is. Instead, the phenomenon has become a cutting edge concern in law-and-society research. In this concluding chapter, I situate Fraenkel’s theory of dictatorship in this emerging research program. In the first section, I turn the notion of an authoritarian rule of law into a social science concept. In the second section, I relate this concept to that of the dual state and both to the political science literature on so-called hybrid regimes. Drawing on this synthesis, the third section makes the concept of the dual state usable for comparative-historical analysis. Through a series of empirical vignettes, I demonstrate the contemporary relevance of Fraenkel’s institutional analysis of the Nazi state. I show why it is essential reading for anyone trying to understand the legal origins of dictatorship, then and now.


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