{"id":"https://openalex.org/W1968898688","doi":"https://doi.org/10.1111/j.1540-6261.1993.tb04755.x","title":"Ownership Concentration, Corporate Control Activity, and Firm Value: Evidence from the Death of Inside Blockholders","display_name":"Ownership Concentration, Corporate Control Activity, and Firm Value: Evidence from the Death of Inside Blockholders","publication_year":1993,"publication_date":"1993-09-01","ids":{"openalex":"https://openalex.org/W1968898688","doi":"https://doi.org/10.1111/j.1540-6261.1993.tb04755.x","mag":"1968898688"},"language":"en","primary_location":{"id":"doi:10.1111/j.1540-6261.1993.tb04755.x","doi":"https://doi.org/10.1111/j.1540-6261.1993.tb04755.x","is_oa":false,"landing_page_url":"https://doi.org/10.1111/j.1540-6261.1993.tb04755.x","pdf_url":null,"source":{"id":"https://openalex.org/S5353659","display_name":"The Journal of Finance","issn_l":"0022-1082","issn":["0022-1082","1540-6261"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","erih-plus","fnege-1-star","ft50","jufo-3","norway-2","poland-200","russia-white-list-1","utd24","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"The Journal of Finance","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5050193384","display_name":"Myron B. Slovin","orcid":null,"observed_orcids":[]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"MYRON B. SLOVIN","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]},{"author_position":"last","author":{"id":"https://openalex.org/A5008530598","display_name":"Marie E. Sushka","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I121820613","display_name":"Louisiana State University","ror":"https://ror.org/05ect4e57","country_code":"US","type":"education","lineage":["https://openalex.org/I121820613"]},{"id":"https://openalex.org/I55732556","display_name":"Arizona State University","ror":"https://ror.org/03efmqc40","country_code":"US","type":"education","lineage":["https://openalex.org/I55732556"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"MARIE E. SUSHKA","raw_affiliation_strings":["The authors are from, respectively, the Department of Finance, Louisiana State University and the Department of Finance, Arizona State University. We acknowledge the helpful suggestions of an anonymous referee and the editor, Rene\u0301 Stulz. We thank Steven Ferraro, Wan L. Lai, and Kristie Matherne for research assistance. This research was supported by a grant from the Summer Research Program at Arizona State University, College of Business"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"The authors are from, respectively, the Department of Finance, Louisiana State University and the Department of Finance, Arizona State University. We acknowledge the helpful suggestions of an anonymous referee and the editor, Rene\u0301 Stulz. We thank Steven Ferraro, Wan L. Lai, and Kristie Matherne for research assistance. This research was supported by a grant from the Summer Research Program at Arizona State University, College of Business","institution_ids":["https://openalex.org/I121820613","https://openalex.org/I55732556"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":2,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":{"value":4430,"currency":"USD","value_usd":4430},"apc_paid":null,"fwci":13.6625,"has_fulltext":false,"cited_by_count":195,"citation_normalized_percentile":{"value":0.97971671,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":89,"max":100},"biblio":{"volume":"48","issue":"4","first_page":"1293","last_page":"1293"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9994999766349792,"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":0.9994999766349792,"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/T11843","display_name":"Family Business Performance and Succession","score":9.999999747378752e-05,"subfield":{"id":"https://openalex.org/subfields/1407","display_name":"Organizational Behavior and Human Resource 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"}},{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":9.999999747378752e-05,"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"}}],"keywords":[{"id":"https://openalex.org/keywords/ownership-concentration","display_name":"ownership concentration","score":0.9959999918937683},{"id":"https://openalex.org/keywords/corporate-control","display_name":"corporate control","score":0.6809999942779541},{"id":"https://openalex.org/keywords/firm-value","display_name":"firm value","score":0.9480000138282776},{"id":"https://openalex.org/keywords/inheritance","display_name":"inheritance","score":0.6010000109672546},{"id":"https://openalex.org/keywords/hostile-takeovers","display_name":"hostile takeovers","score":0.9079999923706055},{"id":"https://openalex.org/keywords/public-companies","display_name":"public companies","score":0.6579999923706055}],"concepts":[{"id":"https://openalex.org/C120757647","wikidata":"https://www.wikidata.org/wiki/Q381136","display_name":"Shareholder","level":3,"score":0.6457440853118896},{"id":"https://openalex.org/C23032112","wikidata":"https://www.wikidata.org/wiki/Q1344727","display_name":"Enterprise value","level":2,"score":0.6437910795211792},{"id":"https://openalex.org/C2775924081","wikidata":"https://www.wikidata.org/wiki/Q55608371","display_name":"Control (management)","level":2,"score":0.6025485992431641},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.5628437399864197},{"id":"https://openalex.org/C199728807","wikidata":"https://www.wikidata.org/wiki/Q2578557","display_name":"Equity (law)","level":2,"score":0.5471653938293457},{"id":"https://openalex.org/C2776662940","wikidata":"https://www.wikidata.org/wiki/Q6770802","display_name":"Market for corporate control","level":4,"score":0.5301996469497681},{"id":"https://openalex.org/C204036174","wikidata":"https://www.wikidata.org/wiki/Q909380","display_name":"Stock (firearms)","level":2,"score":0.529839038848877},{"id":"https://openalex.org/C2776291640","wikidata":"https://www.wikidata.org/wiki/Q2912517","display_name":"Value (mathematics)","level":2,"score":0.5140537023544312},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.4950942099094391},{"id":"https://openalex.org/C2780495726","wikidata":"https://www.wikidata.org/wiki/Q2186896","display_name":"Estate","level":2,"score":0.4863791763782501},{"id":"https://openalex.org/C82279013","wikidata":"https://www.wikidata.org/wiki/Q684740","display_name":"Real estate","level":2,"score":0.42564767599105835},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.31357288360595703},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.30225932598114014},{"id":"https://openalex.org/C39389867","wikidata":"https://www.wikidata.org/wiki/Q380767","display_name":"Corporate governance","level":2,"score":0.27258920669555664},{"id":"https://openalex.org/C17744445","wikidata":"https://www.wikidata.org/wiki/Q36442","display_name":"Political science","level":0,"score":0.0},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.0},{"id":"https://openalex.org/C187736073","wikidata":"https://www.wikidata.org/wiki/Q2920921","display_name":"Management","level":1,"score":0.0},{"id":"https://openalex.org/C78519656","wikidata":"https://www.wikidata.org/wiki/Q101333","display_name":"Mechanical engineering","level":1,"score":0.0},{"id":"https://openalex.org/C119857082","wikidata":"https://www.wikidata.org/wiki/Q2539","display_name":"Machine learning","level":1,"score":0.0},{"id":"https://openalex.org/C199539241","wikidata":"https://www.wikidata.org/wiki/Q7748","display_name":"Law","level":1,"score":0.0},{"id":"https://openalex.org/C127413603","wikidata":"https://www.wikidata.org/wiki/Q11023","display_name":"Engineering","level":0,"score":0.0}],"mesh":[],"locations_count":3,"locations":[{"id":"doi:10.1111/j.1540-6261.1993.tb04755.x","doi":"https://doi.org/10.1111/j.1540-6261.1993.tb04755.x","is_oa":false,"landing_page_url":"https://doi.org/10.1111/j.1540-6261.1993.tb04755.x","pdf_url":null,"source":{"id":"https://openalex.org/S5353659","display_name":"The Journal of Finance","issn_l":"0022-1082","issn":["0022-1082","1540-6261"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","erih-plus","fnege-1-star","ft50","jufo-3","norway-2","poland-200","russia-white-list-1","utd24","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"The Journal of Finance","raw_type":"journal-article"},{"id":"doi:10.2307/2329039","doi":"https://doi.org/10.2307/2329039","is_oa":false,"landing_page_url":"https://doi.org/10.2307/2329039","pdf_url":null,"source":{"id":"https://openalex.org/S5353659","display_name":"The Journal of Finance","issn_l":"0022-1082","issn":["0022-1082","1540-6261"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","erih-plus","fnege-1-star","ft50","jufo-3","norway-2","poland-200","russia-white-list-1","utd24","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"The Journal of Finance","raw_type":"journal-article"},{"id":"pmh:oai:RePEc:bla:jfinan:v:48:y:1993:i:4:p:1293-1321","doi":null,"is_oa":false,"landing_page_url":"http://links.jstor.org/sici?sici=0022-1082%28199309%2948%3A4%3C1293%3AOCCCAA%3E2.0.CO%3B2-Q&origin=repec","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"}],"best_oa_location":null,"sustainable_development_goals":[],"sustainable_development_goals_aurora":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":17,"referenced_works":["https://openalex.org/W1494703832","https://openalex.org/W1547944138","https://openalex.org/W1567752339","https://openalex.org/W1593884130","https://openalex.org/W1605684110","https://openalex.org/W1606272114","https://openalex.org/W1979927021","https://openalex.org/W1981160460","https://openalex.org/W1991795148","https://openalex.org/W2035506393","https://openalex.org/W2063313351","https://openalex.org/W2144470805","https://openalex.org/W2160184254","https://openalex.org/W2747531703","https://openalex.org/W2752617332","https://openalex.org/W3122859634","https://openalex.org/W4251823193"],"related_works":["https://openalex.org/W1574993925","https://openalex.org/W216815053","https://openalex.org/W3129130579","https://openalex.org/W7098970815","https://openalex.org/W2240387036","https://openalex.org/W1985464407","https://openalex.org/W2383166301","https://openalex.org/W2225355414","https://openalex.org/W1538879513","https://openalex.org/W3124369275"],"abstract_inverted_index":{"ABSTRACT":[0],"We":[1,22],"analyze":[2],"how":[3],"ownership":[4,27,95],"concentration":[5,28,96],"affects":[6],"firm":[7,98],"value":[8],"and":[9,30,97],"control":[10,33,72],"of":[11,17,19,52,67,71,75,91],"public":[12],"companies":[13],"by":[14],"examining":[15],"effects":[16],"deaths":[18],"inside":[20],"blockholders.":[21],"find":[23],"shareholder":[24],"wealth":[25],"increases,":[26],"falls,":[29],"extensive":[31],"corporate":[32],"activity":[34],"ensues.":[35],"Share":[36],"price":[37],"responses":[38],"are":[39,77,80],"related":[40],"to":[41,56],"the":[42,53,58,92],"deceased's":[43],"equity":[44],"stake.":[45],"Control":[46],"group":[47],"holdings":[48],"fall":[49],"for":[50],"two\u2010thirds":[51],"firms":[54,68],"due":[55],"either":[57],"estate's":[59],"dispersal":[60],"or":[61],"inheritors":[62],"selling":[63],"stock.":[64],"A":[65],"majority":[66],"become":[69],"targets":[70],"bids:":[73],"three\u2010quarters":[74],"bids":[76],"successful;":[78],"one\u2010third":[79],"hostile.":[81],"Our":[82],"evidence":[83],"is":[84],"broadly":[85],"consistent":[86],"with":[87],"Stulz's":[88],"(1988)":[89],"model":[90],"relationship":[93],"between":[94],"value.":[99]},"counts_by_year":[{"year":2026,"cited_by_count":2},{"year":2025,"cited_by_count":4},{"year":2024,"cited_by_count":1},{"year":2023,"cited_by_count":8},{"year":2022,"cited_by_count":4},{"year":2021,"cited_by_count":7},{"year":2020,"cited_by_count":3},{"year":2019,"cited_by_count":4},{"year":2018,"cited_by_count":6},{"year":2017,"cited_by_count":14},{"year":2016,"cited_by_count":6},{"year":2015,"cited_by_count":5},{"year":2014,"cited_by_count":10},{"year":2013,"cited_by_count":9},{"year":2012,"cited_by_count":6}],"updated_date":"2026-10-14T16:39:01.820549","created_date":"2016-06-24T00:00:00"}