John C. Coffee Jr.

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The Rise of Dispersed Ownership The Roles of Law and the State in the Separation of Ownership and Control

111 Yale L.J. 1 (2001) Deep and liquid securities markets appear to be an exception to a worldwide pattern in which concentrated ownership dominates dispersed ownership. Recent commentary has argued that a dispersed shareholder base is unlikely to develop in civil-law countries and transitional economies for a variety of reasons, including (1) the absence of adequate legal protections for minority...