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@techreport{NBERw10635,
 title = "The Rise and Fall of the Widely Held Firm - A History of Corporate Ownership in Canada",
 author = "Morck, Randall and Percy, Michael and Tian, Gloria and Yeung, Bernard",
 institution = "National Bureau of Economic Research",
 type = "Working Paper",
 series = "Working Paper Series",
 number = "10635",
 year = "2004",
 month = "July",
 doi = {10.3386/w10635},
 URL = "http://www.nber.org/papers/w10635",
 abstract = {A panel of corporate ownership data, stretching back to 1902, shows that the Canadian corporate sector began the century with a predominance of large pyramidal corporate groups controlled by wealthy families or individuals. By mid-century, widely held firms predominated. But, from the 1970s on, pyramidal groups controlled by wealthy families and individuals resurge, restoring a situation similar to that a century earlier. Institutional factors underlying this resurgence are shown to have antecedents deep in the country's colonial past.},
}