ISSN 2167-0439
International Journal of Management and Business Studies ISSN 2167-0439 Vol. 13 (4), pp. 001-012, April, 2024. Available online at www.internationalscholarsjournals.org © International Scholars Journals
Review
Legal Frameworks and Their Role in Safeguarding Minority Shareholder Rights Amid Ownership Concentration and Information Disparities
Saadaoui Amir and Boujelbene Younes
Faculty of Economics and Management, University of Sfax, Tunisia
Accepted 27 November, 2023
This paper studies the impact of law on the protection of minorities, the concentration of ownership and information asymmetry on the basis of a comparison between civil law countries and common law countries. This comparison is done by comparing the origin of these two types of law and the rights that protect minority shareholders against expropriation of shareholders and executives. Similarly the comparison happens to the concentration of ownership, based on the LLSV studies, and information asymmetry by studying the problems of this asymmetry as well as solutions. This study was made by comparison of 11 countries and 11 civil law common law countries. These results allow us to say that minority shareholders are protected in the common law countries than in civil law countries, and for the concentration of ownership that is most popular in common law countries than in civil law countries. Against by the asymmetry of information the legal system has no effect on this variable.
Keywords: corporate governance, protection of minority, concentration of ownership, information asymmetry