@techreport{NBERw2055,
 title = "Management Ownership and Corporate Performance:  An Empirical Analysis",
 author = "Randall Morck and Andrei Shleifer and Robert W. Vishny",
 institution = "National Bureau of Economic Research",
 type = "Working Paper",
 series = "Working Paper Series",
 number = "2055",
 year = "1986",
 month = "October",
 URL = "http://www.nber.org/papers/w2055",
 abstract = {We investigate the relation between management ownership and corporate performance, as measured by Tobin's Q. In a cross-section of Fortune 500 firms, Tobin's Q first increases and then declines as board of directors holdings rise. For older firms there is weak evidence that Q is lower when a firm is run by a member of the founding family than when it is run by an officer unrelated to the founder.},
}