Calendar

Mar
28
jeu
Research Seminar, Law & Finance – with Colin Mayer – University of Oxford (Finance)
Mar 28 @ 18 h 00 min – 19 h 30 min
 
This event is part of the ETH Zurich – Sorbonne Paris 1 – ESCP Europe
 
Labex ReFi – Law & Finance Seminar
 
Organized by Alain Pietrancosta (Sorbonne Law School – University of Paris 1),  Christophe Moussu (ESCP Europe) and Gerard Hertig (ETH Zurich)

 Colin Mayer

 

 

(CV & Bio here)

University of Oxford (Finance)

will present:

Law & Regulation

Abstract :

This chapter documents the evolution of ownership and control of firms around the world over a hundred year period from the beginning of the 20th century to today. It records the substantial changes that have taken place in the nature of stock markets and contrasts these with the persistent patterns of ownership that are observed in many countries around the world. In particular, it documents the growth in dispersion in ownership that took place in
many countries from the early part of the 20th century. It reports that this took place in the absence of formal systems of investor protection but in the presence of institutional developments that facilitated the building of trust between investors and firms. Contrary to the view that concentrations of ownership necessarily undermine the operation of equity markets by exploiting minority interests, the chapter argues that in many countries they
played a central role not just in exercising control but also in promoting relations between investors and firms that were central to the development of their stock markets. In particular, concentrations of ownership in the hands of families may have been a source of public as well as private benefits. The chapter concludes by looking at recent changes and argues that these reinforce the long-run patterns of the relative decline of the UK and US stock  markets, the continued decline of family firms in the UK, the growth of private equity and the emergence of new forms of concentrated shareholdings.

Paper

Link 1Link 2

 
 
ESCP EUROPE
79 avenue de la République 75011 Paris

Thursday, March 28, 2019

18:00-19:30, Room Dalsace – Batiment 3 – étage 1
 
For security reason, please register before the deadline.
wednesday, march 27
NB. If you are prevented from coming, we would be obliged if you could inform us as soon as possible at
 

Registration

Past and coming events of the Law & Finance Seminar
Research Seminar, Law & Finance – with Colin Mayer – University of Oxford (Finance)
Mar 28 @ 18 h 00 min – 19 h 30 min
 
This event is part of the ETH Zurich – Sorbonne Paris 1 – ESCP Europe
 
Labex ReFi – Law & Finance Seminar
 
Organized by Alain Pietrancosta (Sorbonne Law School – University of Paris 1),  Christophe Moussu (ESCP Europe) and Gerard Hertig (ETH Zurich)

 Colin Mayer

 

 

(CV & Bio here)

University of Oxford (Finance)

will present:

Law & Regulation

Abstract :

This chapter documents the evolution of ownership and control of firms around the world over a hundred year period from the beginning of the 20th century to today. It records the substantial changes that have taken place in the nature of stock markets and contrasts these with the persistent patterns of ownership that are observed in many countries around the world. In particular, it documents the growth in dispersion in ownership that took place in
many countries from the early part of the 20th century. It reports that this took place in the absence of formal systems of investor protection but in the presence of institutional developments that facilitated the building of trust between investors and firms. Contrary to the view that concentrations of ownership necessarily undermine the operation of equity markets by exploiting minority interests, the chapter argues that in many countries they
played a central role not just in exercising control but also in promoting relations between investors and firms that were central to the development of their stock markets. In particular, concentrations of ownership in the hands of families may have been a source of public as well as private benefits. The chapter concludes by looking at recent changes and argues that these reinforce the long-run patterns of the relative decline of the UK and US stock  markets, the continued decline of family firms in the UK, the growth of private equity and the emergence of new forms of concentrated shareholdings.

Paper

Link 1Link 2

 
 
ESCP EUROPE
79 avenue de la République 75011 Paris

Thursday, March 28, 2019

18:00-19:30, Room Dalsace – Batiment 3 – étage 1
 
For security reason, please register before the deadline.
wednesday, march 27
NB. If you are prevented from coming, we would be obliged if you could inform us as soon as possible at
 

Registration

Past and coming events of the Law & Finance Seminar
Mar
29
ven
Research Seminar, ReFi – Mayer Colin – University of Oxford
Mar 29 @ 12 h 00 min – 13 h 30 min

 

 

Organized by Prof. Gunther Capelle-Blancard (Université Paris I Panthéon-Sorbonne, Labex ReFi) and Prof. Christophe Moussu (ESCP Europe, Labex ReFi).

Mayer Colin,

University of Oxford 

(cv & bio)

« TBA »

Abstract :

« TBA »

« Paper »

ESCP EUROPE
79 avenue de la République 75011 Paris
Friday, march 29 , 2019

12:00am  to  13:30pm, Room 4310

For security reason, please register before the deadline.
Deadline: 28 march 2019

NB. If you are prevented from coming, we would be obliged if you could inform us as soon as possible at contact@labex-refi.com.
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