Dual-Class Shares

Dual-Class Shares

By
David F. Larcker, Brian Tayan
CGRI Research Spotlight Series. March
2019

This Research Spotlight provides a summary of the academic literature on how dual-class share structures influence firm value and corporate governance quality. It reviews the evidence of:

  • The relation between dual-class shares and governance quality
  • The relation between dual-class shares and tax avoidance
  • The relation between dual-class shares and firm value and performance

This Research Spotlight expands upon issues introduced in the Quick Guide The Market for Corporate Control.