The Form of Control in Companies in the Portfolio of Institutional Investors. The Evidence from the Aviva Otwarty Fundusz Emerytalny
Journal Title: Zarządzanie i Finanse - Year 2013, Vol 11, Issue 2
Abstract
The literature emphasizes the role of ownership and control structures asdeterminants affecting both the operation of capital market and effectiveness of corporate governance. Based on this criterion we distinguish the open model (with dispersed shareholders) and the closed model (with investor holding a controlling stake). The purpose of this paper is to identify control structures and types of in-vestors-companies listed on the Warsaw Stock Exchange which are the subject of investments of the Aviva Otwarty Fundusz Emerytalny [open pension fund]. The study group consisted of 134 companies from the Aviva OFE investment portfolio as of December 30, 2011. The data from annual reports of public com-panies was used for the study. The research method applied in this study was the analysis of data disclosed by public companies in the study group.
Authors and Affiliations
Dagmara Malinowska
Keywords
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