Laws vs. contracts
Subtitle: legal origins, shareholder protections, and ownership concentration in Brazil, 1890-1950
By: Aldo Musacchio
Contributors: Harvard Business School
Series: Working paper / Harvard Business School -- 08-053; Working paper (Harvard Business School) -- 08-053
Publisher: Harvard Business School
Published: 2008
Place of publication: Boston]
Language: eng
Number of pages: 39
Description: The early development of large multidivisional corporations in Latin America required much more than capable managers, new technologies, and large markets. Behind such corporations was a market for capital in which entrepreneurs had to attract investors to buy either debt or equity. This paper examines the investor protections included in corporate bylaws that enabled corporations in Brazil to attract investors in large numbers, thus generating a relatively low concentration of ownership and control in large firms before 1910.
Notes: "January 2008"--Publisher's web site.

Includes bibliographical references.