The impact of dual-class creation on shareholder wealth

Noe, Thomas and Jeong, Jinho (1993) The impact of dual-class creation on shareholder wealth. Corporate Governance: An International Review, 1 (3). pp. 138-140.


This study compares the announcement effects of dual class recapitalization across insider holdings. We find positive announcement effects for the lowest insider holding firms and
negative announcement effects for the firms whose insider holdings is near 50%. The evidence supports the hypothesis that there is an optimal level of insider holdings in the firm.

Item Type: Article
Keywords: dual class shares; New York Stock Exchange; NYSE; finance
Subject(s): Finance
Date Deposited: 17 Nov 2011 12:38
Last Modified: 02 Mar 2017 10:50
Funders: N/A

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