The Relevance of Tag along Rights and Identity of Controlling Shareholders for the Price Spreads between Dual-Class Shares: the Brazilian Case

The Relevance of Tag along Rights and Identity of Controlling Shareholders for the Price Spreads between Dual-Class Shares: the Brazilian Case

This paper analyzes the determinants of the differential pricing of equity classes (the so-called dual-class premium [DCP]) in Brazil from 1995 to 2006 with a focus on two specific corporate governance aspects: i) the granting of tag along rights, a mandatory bid rule that extends to minority shareh...

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Bibliographic Details
Main Authors: Richard Saito, Alexandre Di Miceli da Silveira
Format: Article
Language:English
Published: Associação Nacional de Pós-Graduação e Pesquisa em Administração (ANPAD) 2010-01-01
Series:BAR: Brazilian Administration Review
Subjects:
voting and non-voting shares
dual class premium
private benefits of control
legal rules
mandatory bid Rule.
Online Access:http://www.anpad.org.br/periodicos/arq_pdf/a_1021.pdf

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