Title:

Local Ownership as Private Information: Evidence on the Monitoring-Liquidity Trade-Off

Authors:

José Miguel Gaspar (ESSEC)
Massimo Massa (INSEAD)

Journal:

Journal of Financial Economics

Year:

2007

Volume:

83

Pages:

751-792

JEL codes:

D82 - Asymmetric and Private Information
G23 - Pension Funds; Other Private Financial Institutions