Logo image
The pricing of shares with different voting power and the theory of oceanic games
Dissertation   Open access

The pricing of shares with different voting power and the theory of oceanic games

Kristian Rydqvist
Economic Research Institute, Stockholm School of Economics [Ekonomiska forskningsinstitutet vid Handelshögsk.] (EFI)
Doctor of Philosophy (PHD), Stockholm School of Economics
1987

Abstract

The price difference for shares with different voting power is, in some sense, a quantitative measure of the value of control which is used empirically to investigate the theory of oceanic games, a model of the power distribution among shareholders. The results show that all shareholders, including the very small, have power in a competitive market for corporate control. The power, however, is unequally distributed among the shareholders, thus making the price of a share differ for shares inside or outside a large block of shares.
pdf
1987_ETDDoctoral_Fulltext_Rydqvist_Kristian_ThePricingOfShares2.34 MBDownloadView
PDF Open Access

Metrics

34 File views/ downloads
31 Record Views

Details

Logo image