{"id":"https://openalex.org/W3085647314","doi":"https://doi.org/10.1111/corg.12344","title":"Are all forms of ownership prone to tunneling? A meta\u2010analysis","display_name":"Are all forms of ownership prone to tunneling? A meta\u2010analysis","publication_year":2020,"publication_date":"2020-09-20","ids":{"openalex":"https://openalex.org/W3085647314","doi":"https://doi.org/10.1111/corg.12344","mag":"3085647314"},"language":"en","primary_location":{"id":"doi:10.1111/corg.12344","doi":"https://doi.org/10.1111/corg.12344","is_oa":true,"landing_page_url":"https://doi.org/10.1111/corg.12344","pdf_url":"https://onlinelibrary.wiley.com/doi/pdfdirect/10.1111/corg.12344","source":{"id":"https://openalex.org/S77308338","display_name":"Corporate Governance An International Review","issn_l":"0964-8410","issn":["0964-8410","1467-8683"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","erih-plus","fnege-3","jufo-2","norway-2","poland-140","russia-white-list-1","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":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Corporate Governance: An International Review","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"hybrid","oa_url":"https://onlinelibrary.wiley.com/doi/pdfdirect/10.1111/corg.12344","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5049972313","display_name":"Angelo Maria Solarino","orcid":"https://orcid.org/0000-0001-5030-7375","observed_orcids":["https://orcid.org/0000-0001-5030-7375"]},"institutions":[{"id":"https://openalex.org/I130828816","display_name":"University of Leeds","ror":"https://ror.org/024mrxd33","country_code":"GB","type":"education","lineage":["https://openalex.org/I130828816"]}],"countries":["GB"],"is_corresponding":true,"raw_author_name":"Angelo M. Solarino","raw_affiliation_strings":["Leeds University Business School, The University of Leeds, Leeds, UK"],"raw_orcid":"https://orcid.org/0000-0001-5030-7375","affiliations":[{"raw_affiliation_string":"Leeds University Business School, The University of Leeds, Leeds, UK","institution_ids":["https://openalex.org/I130828816"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5089088626","display_name":"Brian Boyd","orcid":"https://orcid.org/0000-0001-9284-833X","observed_orcids":["https://orcid.org/0000-0001-9284-833X"]},"institutions":[{"id":"https://openalex.org/I203172682","display_name":"Northern Arizona University","ror":"https://ror.org/0272j5188","country_code":"US","type":"education","lineage":["https://openalex.org/I203172682"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Brian K. Boyd","raw_affiliation_strings":["W. A. Franke College of Business, Northern Arizona University, Flagstaff, Arizona, USA"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"W. A. Franke College of Business, Northern Arizona University, Flagstaff, Arizona, USA","institution_ids":["https://openalex.org/I203172682"]}]}],"institutions":[],"countries_distinct_count":2,"institutions_distinct_count":2,"corresponding_author_ids":["https://openalex.org/A5049972313"],"corresponding_institution_ids":["https://openalex.org/I130828816"],"apc_list":{"value":3300,"currency":"USD","value_usd":3300},"apc_paid":{"value":3300,"currency":"USD","value_usd":3300},"fwci":8.3763,"has_fulltext":true,"cited_by_count":68,"citation_normalized_percentile":{"value":0.97342798,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":89,"max":100},"biblio":{"volume":"28","issue":"6","first_page":"488","last_page":"501"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9965999722480774,"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":0.9965999722480774,"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":0.0013000000035390258,"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/T10081","display_name":"Auditing, Earnings Management, Governance","score":0.0006000000284984708,"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"}}],"keywords":[{"id":"https://openalex.org/keywords/tunneling","display_name":"tunneling","score":0.9259999990463257},{"id":"https://openalex.org/keywords/private-benefits-of-control","display_name":"private benefits of control","score":0.8830000162124634},{"id":"https://openalex.org/keywords/state-ownership","display_name":"state ownership","score":0.6209999918937683},{"id":"https://openalex.org/keywords/family-ownership","display_name":"family ownership","score":0.9539999961853027},{"id":"https://openalex.org/keywords/controlling-shareholders","display_name":"controlling shareholders","score":0.8220000267028809},{"id":"https://openalex.org/keywords/information-asymmetry","display_name":"information asymmetry","score":0.824999988079071},{"id":"https://openalex.org/keywords/board-representation","display_name":"board representation","score":0.9760000109672546},{"id":"https://openalex.org/keywords/minority-shareholder-expropriation","display_name":"minority shareholder expropriation","score":0.8489999771118164},{"id":"https://openalex.org/keywords/agency-theory","display_name":"agency theory","score":0.6119999885559082}],"concepts":[{"id":"https://openalex.org/C144559511","wikidata":"https://www.wikidata.org/wiki/Q2986279","display_name":"Principal (computer security)","level":2,"score":0.7136098146438599},{"id":"https://openalex.org/C120757647","wikidata":"https://www.wikidata.org/wiki/Q381136","display_name":"Shareholder","level":3,"score":0.6821058988571167},{"id":"https://openalex.org/C200707436","wikidata":"https://www.wikidata.org/wiki/Q1053211","display_name":"Principal\u2013agent problem","level":3,"score":0.6008849740028381},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.47458577156066895},{"id":"https://openalex.org/C2779343474","wikidata":"https://www.wikidata.org/wiki/Q3109175","display_name":"Context (archaeology)","level":2,"score":0.4561551809310913},{"id":"https://openalex.org/C121955636","wikidata":"https://www.wikidata.org/wiki/Q4116214","display_name":"Accounting","level":1,"score":0.3405892848968506},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.3310205042362213},{"id":"https://openalex.org/C39389867","wikidata":"https://www.wikidata.org/wiki/Q380767","display_name":"Corporate governance","level":2,"score":0.2703692317008972},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.14016112685203552},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.12588831782341003},{"id":"https://openalex.org/C38652104","wikidata":"https://www.wikidata.org/wiki/Q3510521","display_name":"Computer security","level":1,"score":0.09577393531799316},{"id":"https://openalex.org/C86803240","wikidata":"https://www.wikidata.org/wiki/Q420","display_name":"Biology","level":0,"score":0.0},{"id":"https://openalex.org/C151730666","wikidata":"https://www.wikidata.org/wiki/Q7205","display_name":"Paleontology","level":1,"score":0.0}],"mesh":[],"locations_count":3,"locations":[{"id":"doi:10.1111/corg.12344","doi":"https://doi.org/10.1111/corg.12344","is_oa":true,"landing_page_url":"https://doi.org/10.1111/corg.12344","pdf_url":"https://onlinelibrary.wiley.com/doi/pdfdirect/10.1111/corg.12344","source":{"id":"https://openalex.org/S77308338","display_name":"Corporate Governance An International Review","issn_l":"0964-8410","issn":["0964-8410","1467-8683"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","erih-plus","fnege-3","jufo-2","norway-2","poland-140","russia-white-list-1","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":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Corporate Governance: An International Review","raw_type":"journal-article"},{"id":"pmh:oai:eprints.whiterose.ac.uk:164905","doi":null,"is_oa":true,"landing_page_url":"https://orcid.org/0000-0001-5030-7375>","pdf_url":"https://eprints.whiterose.ac.uk/id/eprint/164905/10/corg.12344.pdf","source":{"id":"https://openalex.org/S4306400854","display_name":"White Rose Research Online (University of Leeds, The University of Sheffield, University of York)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I2800616092","host_organization_name":"White Rose University Consortium","host_organization_lineage":["https://openalex.org/I2800616092"],"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"},{"id":"pmh:oai:https://durham-repository.worktribe.com/:1232411","doi":null,"is_oa":true,"landing_page_url":"https://durham-repository.worktribe.com/output/1232411","pdf_url":null,"source":{"id":"https://openalex.org/S4306400188","display_name":"Durham Research Online (Durham University)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I190082696","host_organization_name":"Durham University","host_organization_lineage":["https://openalex.org/I190082696"],"host_organization_lineage_names":[],"type":"repository"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"Journal Article"}],"best_oa_location":{"id":"doi:10.1111/corg.12344","doi":"https://doi.org/10.1111/corg.12344","is_oa":true,"landing_page_url":"https://doi.org/10.1111/corg.12344","pdf_url":"https://onlinelibrary.wiley.com/doi/pdfdirect/10.1111/corg.12344","source":{"id":"https://openalex.org/S77308338","display_name":"Corporate Governance An International Review","issn_l":"0964-8410","issn":["0964-8410","1467-8683"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","erih-plus","fnege-3","jufo-2","norway-2","poland-140","russia-white-list-1","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":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Corporate Governance: An International Review","raw_type":"journal-article"},"sustainable_development_goals":[{"id":"https://metadata.un.org/sdg/16","display_name":"Peace, justice, and strong institutions","score":0.6207000017166138}],"sustainable_development_goals_aurora":[],"study_designs":[{"id":"https://openalex.org/study-designs/systematic-review","display_name":"Systematic Review"},{"id":"https://openalex.org/study-designs/meta-analysis","display_name":"Meta-Analysis"}],"awards":[],"funders":[],"has_content":{"grobid_xml":true,"pdf":true},"content_urls":{"pdf":"https://content.openalex.org/works/W3085647314.pdf","grobid_xml":"https://content.openalex.org/works/W3085647314.grobid-xml"},"referenced_works_count":94,"referenced_works":["https://openalex.org/W1507650718","https://openalex.org/W1511920456","https://openalex.org/W1536012180","https://openalex.org/W1547848931","https://openalex.org/W1812161316","https://openalex.org/W1883953524","https://openalex.org/W1910832905","https://openalex.org/W1932682057","https://openalex.org/W1974345323","https://openalex.org/W1974991893","https://openalex.org/W1975095643","https://openalex.org/W1980116391","https://openalex.org/W1980435043","https://openalex.org/W1980934528","https://openalex.org/W1984552388","https://openalex.org/W1996111496","https://openalex.org/W1999583607","https://openalex.org/W1999997164","https://openalex.org/W2001669695","https://openalex.org/W2007946665","https://openalex.org/W2012411524","https://openalex.org/W2019940658","https://openalex.org/W2026197177","https://openalex.org/W2030132760","https://openalex.org/W2035692421","https://openalex.org/W2040709535","https://openalex.org/W2063313351","https://openalex.org/W2069735229","https://openalex.org/W2080296732","https://openalex.org/W2092120460","https://openalex.org/W2095299437","https://openalex.org/W2100180614","https://openalex.org/W2103166661","https://openalex.org/W2104508869","https://openalex.org/W2109072171","https://openalex.org/W2111558694","https://openalex.org/W2113942631","https://openalex.org/W2115973166","https://openalex.org/W2119362110","https://openalex.org/W2139047515","https://openalex.org/W2139990942","https://openalex.org/W2142117607","https://openalex.org/W2149835092","https://openalex.org/W2162782155","https://openalex.org/W2165269254","https://openalex.org/W2168237201","https://openalex.org/W2168283218","https://openalex.org/W2170436821","https://openalex.org/W2234397921","https://openalex.org/W2297973619","https://openalex.org/W2305663577","https://openalex.org/W2316509495","https://openalex.org/W2516559969","https://openalex.org/W2529183139","https://openalex.org/W2562363896","https://openalex.org/W2566731188","https://openalex.org/W2567316357","https://openalex.org/W2892146321","https://openalex.org/W2898813204","https://openalex.org/W3003883893","https://openalex.org/W3022133196","https://openalex.org/W3023160244","https://openalex.org/W3048118390","https://openalex.org/W3121147769","https://openalex.org/W3121297842","https://openalex.org/W3121345957","https://openalex.org/W3121479022","https://openalex.org/W3121644316","https://openalex.org/W3121693921","https://openalex.org/W3121864519","https://openalex.org/W3122082991","https://openalex.org/W3122210247","https://openalex.org/W3122375962","https://openalex.org/W3122769798","https://openalex.org/W3123091495","https://openalex.org/W3123748565","https://openalex.org/W3123985329","https://openalex.org/W3124020223","https://openalex.org/W3124253171","https://openalex.org/W3124267773","https://openalex.org/W3124747412","https://openalex.org/W3124836373","https://openalex.org/W3124859647","https://openalex.org/W3125486816","https://openalex.org/W3125684456","https://openalex.org/W3125701181","https://openalex.org/W3125809992","https://openalex.org/W3125933001","https://openalex.org/W4232286240","https://openalex.org/W4252888656","https://openalex.org/W4256216147","https://openalex.org/W4298413470","https://openalex.org/W6638386651","https://openalex.org/W6884991018"],"related_works":["https://openalex.org/W2364229089","https://openalex.org/W7216355382","https://openalex.org/W4410971448","https://openalex.org/W2361982248","https://openalex.org/W2887607103","https://openalex.org/W2140742644","https://openalex.org/W3112214370","https://openalex.org/W2494440220","https://openalex.org/W2349540094","https://openalex.org/W4403606412"],"abstract_inverted_index":{"Abstract":[0],"Research":[1,57],"Question/Issue":[2],"This":[3,183,205],"study":[4,81,103,184,206],"seeks":[5],"to":[6,87,132,136,148,159,188,232,235,251],"extend":[7],"agency":[8],"theory":[9],"in":[10,73,113,138,150,161,169,212],"the":[11,63,88,98,109,124,157,170,177,180,186,197,214,222,226,241,253],"context":[12],"of":[13,24,75,97,108,111,176,179,193,200,216,229,240,255],"tunneling":[14,39,68,137,162,230],"by":[15,92,221],"exploring":[16],"how":[17,29],"different":[18,36],"owner":[19,71],"types":[20,72,192],"seek":[21],"private":[22,236],"benefits":[23],"control.":[25],"Specifically,":[26],"we":[27,173,243],"examine":[28],"information":[30,237],"asymmetries":[31],"and":[32,44,67,78,94,195,238],"board":[33],"representation":[34],"create":[35],"pressures":[37],"for":[38,40,123,209],"state\u2010owned,":[41],"business":[42],"group\u2010owned,":[43],"family\u2010owned":[45],"firms.":[46,114],"We":[47],"tested":[48],"our":[49,106],"hypotheses":[50],"with":[51],"a":[52,83],"meta\u2010analytic":[53],"structural":[54],"equation":[55],"model.":[56],"Findings/Insights":[58],"Our":[59,80,102,117,152],"findings":[60,118],"show":[61],"that":[62,156],"relationship":[64],"between":[65],"ownership":[66,112,194],"differs":[69],"across":[70],"terms":[74],"both":[76],"directionality":[77],"magnitude.":[79],"offers":[82,207],"substantial":[84],"theoretical":[85],"contribution":[86],"principal\u2013principal":[89,125,181,201],"problem":[90,99],"literature":[91],"theorizing":[93],"testing":[95],"variations":[96],"among":[100,165],"owners.":[101],"also":[104],"advances":[105],"understanding":[107],"role":[110],"Theoretical/Academic":[115],"Implications":[116,204],"have":[119,129],"important":[120],"theory\u2010building":[121],"implications":[122],"literature.":[126,182],"Controlling":[127],"shareholders":[128,218],"been":[130],"linked":[131],"performance":[133],"outcomes":[134],"or":[135],"general,":[139],"yet":[140],"little":[141],"is":[142],"known":[143],"about":[144,190],"their":[145],"comparative":[146],"propensity":[147,158],"engage":[149,160],"tunneling.":[151],"results,":[153],"however,":[154],"highlight":[155],"varies":[163],"substantially":[164],"controlling":[166,223],"shareholders.":[167],"Furthermore,":[168],"robustness":[171],"checks,":[172],"disconfirm":[174],"some":[175],"assumptions":[178],"demonstrates":[185],"need":[187],"theorize":[189],"specific":[191],"reassess":[196],"core":[198],"arguments":[199],"theory.":[202],"Practitioner/Policy":[203],"insights":[208],"policymakers":[210,248],"interested":[211],"mitigating":[213],"risk":[215],"minority":[217],"being":[219],"expropriated":[220],"shareholder.":[224],"As":[225],"key":[227],"driver":[228],"appears":[231],"be":[233],"access":[234],"knowledge":[239],"firm,":[242],"offer":[244],"recommendations":[245],"on":[246],"what":[247],"can":[249],"do":[250],"minimize":[252],"asymmetry":[254],"information.":[256]},"counts_by_year":[{"year":2026,"cited_by_count":10},{"year":2025,"cited_by_count":23},{"year":2024,"cited_by_count":17},{"year":2023,"cited_by_count":8},{"year":2022,"cited_by_count":4},{"year":2021,"cited_by_count":5},{"year":2020,"cited_by_count":1}],"updated_date":"2026-10-30T12:39:25.321706","created_date":"2020-09-21T00:00:00"}