"[O]wnership and control can be separated to the benefit of large shareholders." Discuss this statement citing appropriate literature. Make sure to: i) explain how ownership structures are formed and measured; ii) explain why ownership concentration emerges; iii) discuss the costs of large ownership especially in terms of creating a wedge (control vs. cash flow rights); iiii) support your answer by citing relevant evidence from around the world on how and why certain ownership structures emerge in a particular region.

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