{"id":"https://openalex.org/W1562482006","doi":"https://doi.org/10.2139/ssrn.562511","title":"Extreme Governance: An Analysis of Dual-Class Companies in the United States","display_name":"Extreme Governance: An Analysis of Dual-Class Companies in the United States","publication_year":2004,"publication_date":"2004-01-01","ids":{"openalex":"https://openalex.org/W1562482006","doi":"https://doi.org/10.2139/ssrn.562511","mag":"1562482006"},"language":"en","primary_location":{"id":"doi:10.2139/ssrn.562511","doi":"https://doi.org/10.2139/ssrn.562511","is_oa":true,"landing_page_url":"https://doi.org/10.2139/ssrn.562511","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"acceptedVersion","is_accepted":true,"is_published":false,"raw_source_name":null,"raw_type":"posted-content"},"volume":null,"type":"preprint","indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://doi.org/10.2139/ssrn.562511","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5056111879","display_name":"Paul A. Gompers","orcid":"https://orcid.org/0000-0003-3018-7614","observed_orcids":["https://orcid.org/0000-0003-3018-7614"]},"institutions":[{"id":"https://openalex.org/I1321305853","display_name":"National Bureau of Economic Research","ror":"https://ror.org/04grmx538","country_code":"US","type":"nonprofit","lineage":["https://openalex.org/I1321305853"]},{"id":"https://openalex.org/I136199984","display_name":"Harvard University","ror":"https://ror.org/03vek6s52","country_code":"US","type":"education","lineage":["https://openalex.org/I136199984"]},{"id":"https://openalex.org/I4210136188","display_name":"European Corporate Governance Institute","ror":"https://ror.org/04egehb02","country_code":"BE","type":"nonprofit","lineage":["https://openalex.org/I4210136188"]}],"countries":["BE","US"],"is_corresponding":false,"raw_author_name":"Paul A. Gompers","raw_affiliation_strings":["European Corporate Governance Institute (ECGI), c/o the Royal Academies of Belgium, Rue Ducale 1 Hertogsstraat, 1000 Brussels, Belgium","Harvard Business School - Finance Unit, Boston, MA 02163, United States","Harvard University - Entrepreneurial Management Unit, Cambridge, MA 02163, United States","National Bureau of Economic Research (NBER), 1050 Massachusetts Avenue, Cambridge, MA 02138, United States","European Corporate Governance Institute (ECGI)","Harvard Business School - Finance Unit","Harvard University - Entrepreneurial Management Unit","National Bureau of Economic Research (NBER)"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"European Corporate Governance Institute (ECGI), c/o the Royal Academies of Belgium, Rue Ducale 1 Hertogsstraat, 1000 Brussels, Belgium","institution_ids":["https://openalex.org/I4210136188"]},{"raw_affiliation_string":"Harvard Business School - Finance Unit, Boston, MA 02163, United States","institution_ids":["https://openalex.org/I136199984"]},{"raw_affiliation_string":"Harvard University - Entrepreneurial Management Unit, Cambridge, MA 02163, United States","institution_ids":["https://openalex.org/I136199984"]},{"raw_affiliation_string":"National Bureau of Economic Research (NBER), 1050 Massachusetts Avenue, Cambridge, MA 02138, United States","institution_ids":["https://openalex.org/I1321305853"]},{"raw_affiliation_string":"European Corporate Governance Institute (ECGI)","institution_ids":["https://openalex.org/I4210136188"]},{"raw_affiliation_string":"Harvard Business School - Finance Unit","institution_ids":["https://openalex.org/I136199984"]},{"raw_affiliation_string":"Harvard University - Entrepreneurial Management Unit","institution_ids":["https://openalex.org/I136199984"]},{"raw_affiliation_string":"National Bureau of Economic Research (NBER)","institution_ids":["https://openalex.org/I1321305853"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5039552506","display_name":"Joy L. Ishii","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I97018004","display_name":"Stanford University","ror":"https://ror.org/00f54p054","country_code":"US","type":"education","lineage":["https://openalex.org/I97018004"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Joy L. Ishii","raw_affiliation_strings":["Stanford Graduate School of Business, 655 Knight Way, Stanford, CA 94305-5015, United States","Stanford Graduate School of Business"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Stanford Graduate School of Business, 655 Knight Way, Stanford, CA 94305-5015, United States","institution_ids":["https://openalex.org/I97018004"]},{"raw_affiliation_string":"Stanford Graduate School of Business","institution_ids":["https://openalex.org/I97018004"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5048441405","display_name":"Andrew Metrick","orcid":"https://orcid.org/0000-0002-7930-9830","observed_orcids":["https://orcid.org/0000-0002-7930-9830"]},"institutions":[{"id":"https://openalex.org/I1321305853","display_name":"National Bureau of Economic Research","ror":"https://ror.org/04grmx538","country_code":"US","type":"nonprofit","lineage":["https://openalex.org/I1321305853"]},{"id":"https://openalex.org/I32971472","display_name":"Yale University","ror":"https://ror.org/03v76x132","country_code":"US","type":"education","lineage":["https://openalex.org/I32971472"]}],"countries":["US"],"is_corresponding":true,"raw_author_name":"Andrew Metrick","raw_affiliation_strings":["National Bureau of Economic Research (NBER), 1050 Massachusetts Avenue, Cambridge, MA 02138, United States","Yale School of Management, 165 Whitney Avenue, New Haven, CT 06511, United States","Yale University - Yale Program on Financial Stability, 165 Whitney Avenue, P.O. Box 208200, New Haven, CT 06520-8200, United States","National Bureau of Economic Research (NBER)","Yale School of Management","Yale University - Yale Program on Financial Stability"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"National Bureau of Economic Research (NBER), 1050 Massachusetts Avenue, Cambridge, MA 02138, United States","institution_ids":["https://openalex.org/I1321305853"]},{"raw_affiliation_string":"Yale School of Management, 165 Whitney Avenue, New Haven, CT 06511, United States","institution_ids":["https://openalex.org/I32971472"]},{"raw_affiliation_string":"Yale University - Yale Program on Financial Stability, 165 Whitney Avenue, P.O. Box 208200, New Haven, CT 06520-8200, United States","institution_ids":["https://openalex.org/I32971472"]},{"raw_affiliation_string":"National Bureau of Economic Research (NBER)","institution_ids":["https://openalex.org/I1321305853"]},{"raw_affiliation_string":"Yale School of Management","institution_ids":["https://openalex.org/I32971472"]},{"raw_affiliation_string":"Yale University - Yale Program on Financial Stability","institution_ids":["https://openalex.org/I32971472"]}]}],"institutions":[],"countries_distinct_count":2,"institutions_distinct_count":5,"corresponding_author_ids":["https://openalex.org/A5048441405"],"corresponding_institution_ids":["https://openalex.org/I1321305853","https://openalex.org/I32971472"],"apc_list":null,"apc_paid":null,"fwci":null,"has_fulltext":false,"cited_by_count":35,"citation_normalized_percentile":null,"cited_by_percentile_year":null,"biblio":{"volume":null,"issue":null,"first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9990000128746033,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9990000128746033,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.0003000000142492354,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12675","display_name":"Financial Reporting and Valuation Research","score":9.999999747378752e-05,"subfield":{"id":"https://openalex.org/subfields/1408","display_name":"Strategy and Management"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/dual-class-stock","display_name":"dual-class stock","score":0.8199999928474426},{"id":"https://openalex.org/keywords/corporate-governance","display_name":"corporate governance","score":0.7710000276565552},{"id":"https://openalex.org/keywords/managerial-ownership","display_name":"managerial ownership","score":0.890999972820282},{"id":"https://openalex.org/keywords/firm-value","display_name":"firm value","score":0.9020000100135803},{"id":"https://openalex.org/keywords/cash-flow-rights","display_name":"cash flow rights","score":0.9100000262260437},{"id":"https://openalex.org/keywords/voting-rights","display_name":"voting rights","score":0.9900000095367432},{"id":"https://openalex.org/keywords/separation-of-control-and-cash-flow-rights","display_name":"separation of control and cash flow rights","score":0.6129999756813049},{"id":"https://openalex.org/keywords/endogeneity","display_name":"endogeneity","score":0.5899999737739563},{"id":"https://openalex.org/keywords/instrumental-variables","display_name":"instrumental variables","score":0.46799999475479126},{"id":"https://openalex.org/keywords/us-firms","display_name":"US firms","score":0.5640000104904175}],"concepts":[{"id":"https://openalex.org/C29122968","wikidata":"https://www.wikidata.org/wiki/Q1414816","display_name":"Incentive","level":2,"score":0.59394371509552},{"id":"https://openalex.org/C2780980858","wikidata":"https://www.wikidata.org/wiki/Q110022","display_name":"Dual (grammatical number)","level":2,"score":0.5130807161331177},{"id":"https://openalex.org/C2777212361","wikidata":"https://www.wikidata.org/wiki/Q5127848","display_name":"Class (philosophy)","level":2,"score":0.4786709249019623},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.4429122805595398},{"id":"https://openalex.org/C33923547","wikidata":"https://www.wikidata.org/wiki/Q395","display_name":"Mathematics","level":0,"score":0.3261752426624298},{"id":"https://openalex.org/C21547014","wikidata":"https://www.wikidata.org/wiki/Q1423657","display_name":"Operations management","level":1,"score":0.32196468114852905},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.3023430109024048},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.21788814663887024},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.18329590559005737},{"id":"https://openalex.org/C142362112","wikidata":"https://www.wikidata.org/wiki/Q735","display_name":"Art","level":0,"score":0.10610637068748474},{"id":"https://openalex.org/C154945302","wikidata":"https://www.wikidata.org/wiki/Q11660","display_name":"Artificial intelligence","level":1,"score":0.09969878196716309},{"id":"https://openalex.org/C124952713","wikidata":"https://www.wikidata.org/wiki/Q8242","display_name":"Literature","level":1,"score":0.0}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.2139/ssrn.562511","doi":"https://doi.org/10.2139/ssrn.562511","is_oa":true,"landing_page_url":"https://doi.org/10.2139/ssrn.562511","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"acceptedVersion","is_accepted":true,"is_published":false,"raw_source_name":null,"raw_type":"posted-content"}],"best_oa_location":{"id":"doi:10.2139/ssrn.562511","doi":"https://doi.org/10.2139/ssrn.562511","is_oa":true,"landing_page_url":"https://doi.org/10.2139/ssrn.562511","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"acceptedVersion","is_accepted":true,"is_published":false,"raw_source_name":null,"raw_type":"posted-content"},"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":47,"referenced_works":["https://openalex.org/W599179060","https://openalex.org/W1494703832","https://openalex.org/W1510867349","https://openalex.org/W1591601341","https://openalex.org/W1606272114","https://openalex.org/W1965891660","https://openalex.org/W1971280104","https://openalex.org/W1979927021","https://openalex.org/W2020451382","https://openalex.org/W2043034934","https://openalex.org/W2051550839","https://openalex.org/W2056672735","https://openalex.org/W2064768812","https://openalex.org/W2076778835","https://openalex.org/W2078487701","https://openalex.org/W2095608235","https://openalex.org/W2110153620","https://openalex.org/W2119592891","https://openalex.org/W2124115302","https://openalex.org/W2126015078","https://openalex.org/W2127839771","https://openalex.org/W2131120940","https://openalex.org/W2136120210","https://openalex.org/W2140740451","https://openalex.org/W2142768868","https://openalex.org/W2165144879","https://openalex.org/W2165854756","https://openalex.org/W2168086868","https://openalex.org/W2170007391","https://openalex.org/W2172204617","https://openalex.org/W2892264895","https://openalex.org/W2892334275","https://openalex.org/W3121202776","https://openalex.org/W3121835489","https://openalex.org/W3121920134","https://openalex.org/W3121956280","https://openalex.org/W3122148582","https://openalex.org/W3122222122","https://openalex.org/W3122302359","https://openalex.org/W3122721387","https://openalex.org/W3123276743","https://openalex.org/W3123562738","https://openalex.org/W3124125015","https://openalex.org/W3124259699","https://openalex.org/W3124683859","https://openalex.org/W3124747412","https://openalex.org/W3125701181"],"related_works":["https://openalex.org/W2163506883","https://openalex.org/W7097028652","https://openalex.org/W1558900340","https://openalex.org/W7098344499","https://openalex.org/W7213325617","https://openalex.org/W7206200434","https://openalex.org/W2779049254","https://openalex.org/W2750715606","https://openalex.org/W2064768812","https://openalex.org/W2253233483"],"abstract_inverted_index":null,"counts_by_year":[{"year":2020,"cited_by_count":1},{"year":2018,"cited_by_count":2},{"year":2017,"cited_by_count":2},{"year":2016,"cited_by_count":1},{"year":2015,"cited_by_count":2},{"year":2014,"cited_by_count":5},{"year":2013,"cited_by_count":1},{"year":2012,"cited_by_count":1}],"updated_date":"2026-10-14T16:39:01.820549","created_date":"2016-06-24T00:00:00"}