| 講演者 | Vikas Mehrotra氏 （Professor, Finance Department, Alberta School of Business, University of Alberta, Canada） 講演者のプロフィールはこちら/ Speaker’s Profile  |
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| 日時 | 2016年7月4日（月） 13:00～14:30 / Monday, July 4, 2016, 13:00-14:30 |
| 会場 | 早稲田大学 早稲田キャンパス11号館11階 1111号室 |
| 主旨 | It is widely thought that family control loosens as firms grow larger over time. Our analysis, based on the history of public traded firms in Japan, challenges this conventional view. We document three new results: First, 50 years after the IPO, the founding family retains either managerial or ownership control in 50 % of the firms in our sample. Second, we document that it is common that families keep control over board and management even when their ownership stake is largely diluted. Third, family and financial constraints determine the dynamic pattern of ownership dilution and family control. The family’s unique assets such as reputation, networks of financiers, and competent human resources are correlated with family longevity. These results show that family control over large public traded companies is time persistent and that it is important to look beyond the traditional ownership focus when categorizing family firms. |
| プログラム | 13：00 開会の挨拶（宮島英昭 早稲田大学高等研究所 所長／商学学術院 教授） 13：05 講演 14：05 質疑応答 14：25 閉会の挨拶（宮島英昭） |
| 対象 | 学部生・大学院生・研究者・教職員 等 |
| 主催 | 早稲田大学産業経営研究所 早稲田大学高等研究所 |
| 申込み | 事前申し込み不要です。直接会場にお越しください。 |
