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Who Controls US?
Author(s) -
Gadhoum Yoser,
Lang Larry H. P.,
Young Leslie
Publication year - 2005
Publication title -
european financial management
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.311
H-Index - 64
eISSN - 1468-036X
pISSN - 1354-7798
DOI - 10.1111/j.1354-7798.2005.00287.x
Subject(s) - shareholder , institution , business , accounting , financial institution , control (management) , finance , monetary economics , economics , corporate governance , law , management , political science
Berle and Means asserted that US corporations typically have dispersed shareholders; their evidence did not support this conclusion. Today, 59.74% of US corporations have ‘controlling shareholders’ who hold at least 10% of the shares; 24.57% are controlled and managed by a family; 16.33% are controlled by a widely‐held financial institution; 13.55% are controlled through family trusts. In all size ranges, the USA has more corporations controlled by families than by financial institutions. In almost all size ranges, it has a higher percentage of family‐controlled corporations than any of next four largest economies .