
OWNERSHIP STRUCTURE AS A CORPORATE GOVERNANCE MECHANISM 237
occupant safety systems, chassis systems, electronics, and engine components for
spacecraft and space communications, defense systems, telecommunications prod-
ucts, information technology, public safety systems, and other complex integrated
systems.
V. OWNERSHIP STRUCTURE AS A CORPORATE
GOVERNANCE MECHANISM
Investors have long placed great emphasis on the firm’s debt versus equity financ-
ing decision. More recently, interest has shifted to the corporate governance
implications of the ownership structure of the firm, or the complex array of diver-
gent claims on the value of the firm.
The capital ...