BIGFI/Finance Seminar with Katharina Lewellen, Tuck School of Business

On Friday, March 3, Katharina Lewellen, Tuck School of Business, will be giving a seminar on the paper: The ownership structure of U.S. corporations

Friday, March 3, 2023 - 11:00 to 12:15

The Department of Finance is proud to announce the upcoming seminar with Katharina Lewellen, Tuck School of Business.

Katharina Lewellen will present: The ownership structure of U.S. corporations

ABSTRACT: We study the ownership structure of U.S. corporations using a comprehensive database of share ownership by insiders, affiliated firms, and institutional investors. Ownership has become increasingly concentrated in recent years, especially in mid- and large-cap firms. In 2017, insiders and affiliates own 5.2% of the value-weighted average firm, while a firm’s top five institutional shareholders own 27.6% of shares, its top 10 institutional shareholders own 37.1% of shares, and its top 25 institutional shareholders own 49.8% of shares. The top shareholders vary predictably across firmsmost notably, small institutions match to small firms and large institutions match to large firmsand a firm’s ownership is surprisingly stable from one year to the next. Our findings have a number of implications for corporate governance.

Solbjerg Plads 3
2000 Frederiksberg
Room: SPs07

More information will follow.

The page was last edited by: Department of Finance // 01/25/2024