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¹¹⁹ Ownership-oriented research accelerated beginning in the 1980s, due primarily to the emergence of electronic databases with commercially available share ownership data. Appendices 5 and 6 are not intended to providea comprehensive survey of the relevant studies. For instance, samples biased in favor of companies with special characteristics have not been included, such as Laura C. Field and Dennis P. Sheehan, “IPO Underpricing and Outside Blockholdings,” Journal of Corporate Finance 10 (2004): 263 (firms that had recently carried out IPOs); Denis, David J., Denis, Diane K., and Sarin, Atulya, “Ownership Structure and Top Executive Turnover,” Journal of Financial Economics 45 (1997): 193CrossRefGoogle Scholar (firms experiencing CEO turnover); Singh, Manohar and Davidson, William N., “Agency Costs, Ownership Structure, and Corporate Governance Mechanisms,” Journal of Banking and Finance 27 (2003): 793 (sample was biased strongly in favor of companies that had diversified).CrossRefGoogle Scholar

¹²⁰ Heflin, Frank and Shaw, Kenneth W., “Blockholder Ownership and Market Liquidity,” Journal of Financial and Quantitative Analysis(2000) 35: 621Google Scholar; Bhagat, Sanjai, Black, Bernard S., and Blair, Margaret M., “Relational Investingand Firm Performance,” Journal of Financial Research (2004) 27: 1Google Scholar.

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¹²⁴ Standard & Poor's, “S&P Releases Details of Full Float Adjustment for U.S Indices,” press release, 28 Sept. 2004, available at http://www2.standardandpoors.com/spf/pdf/index/092804FloatFinalPR.pdf (accessed 8 Sept. 2008).

¹²⁵ Standard & Poor's, “Float Adjustment FAQ,” 28 Sept. 2004, 5, available at http://www2.standardandpoors.com/spf/pdf/index/Float%20FAQ.pdf (accessed 8 Sept. 2008).

¹²⁶ Standard & Poor's, “Impact of Float Adjustment of U.S. Indices,” 28 Sept. 2004, 18, available at http://www2.standardandpoors.com/spf/pdf/index/Float%20Impact.pdf (accessed 8 Sept. 2008).

¹²⁷ See Standard & Poor's Web site for a link to S&P MidCap 400 and S&P SmallCap 600 under United States, http://ww2.standardandpoors.com/(accessed 9 Sept. 2008).

¹²⁸ Standard & Poor's, “S&P Releases Details” Standard & Poor's, “Impact of Float Adjustment,” 18.

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