Integrated Ownership and Control in the GCC Corporate Sector
Integrated Ownership and Control in the GCC Corporate Sector
复制标题
海湾合作委员会企业部门的综合所有权和控制权
DOI：
10.5089/9781513589459.001
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发表时间：
2015
期刊：
影响因子：
--
通讯作者：
A. Santos
中科院分区：
文献类型：
--
作者：
A. Santos
本文件的目的是评估海湾合作委员会公司部门的所有权和控制权联系。分析的重点是彭博和海湾合作委员会证券交易所提供的所有权数据所产生的综合所有权和网络。本文发现，所有权集中在海湾合作委员会公共部门机构，控股公司，金融机构和家族集团。然后，本文考虑了控制权的不同定义对合并债务分布的影响。当所有权和控制权之间的差距最大时，债务集中度最大。在Zingales（1994）的定义中，最大股东至少拥有总股份的5%。
The objective of the paper is to assess ownership and control links in the GCC corporate sector. The analysis focuses on the integrated ownership and network arising from ownership data available in Bloomberg and GCC stock exchanges. The paper finds that ownership is concentrated in GCC public sector institutions, holding companies, financial institutions, and family groups. The paper then considers the effect of different definitions of control on the distribution of consolidated debt. Debt concentration is maximized when the wedge between ownership and control is the largest. This is the case when the largest shareholder has at least 5 percent of total shares as defined in Zingales (1994).