5Pagano, M., A., Roell, 1998, "The Choice of Stock Ownership Structure:Agency Costs, Monitoring, and The De-cision To Go Public", The Quarterly Journal of Economics,188-225.
6Shleifer, A. and R. Vishny., 1986, "Large Share-holders and Corporate Control", Journal of Political Econo-mr, 94, 461-488.
7Shleifer, A. and Vishny, R., 1997, "A Survey of Corporate Governance", Journal of Finance, 52, 737-783.
8Bennedsen M., M. Fosgerau and K. Nielsen, 2003 ,"The Strategic Choice of Control Allocation and Ownership Distribution in Closely Held Corporations", Working Paper,Copenhagen Business School.
9Bennedsen M., D. Wolfenzon, 2000, "The Balance of Power in Closely Held Corporations", Journal of Financial Economics, 58, 113 -139.
10Berle, Adolf and Gardiner Means, 1932, The Modern Corporation and Private Property, New York, Macmillan.