Lucian A. Bebchuk & Marcel Kahan, Adverse Selection and Gains to Controllers in Corporate Freezeouts, in Concentrated Corporate Ownership 247 (R. Morck ed., U. Chi. Press 2000)(Earlier issued as The "Lemon Effect" in Corporate Freeze-Outs (NBER Working Paper No. 6938, 1999)).
Abstract: The first set of papers deals with the determinants of concentrated corporate ownership structure. Gompers and Lerner (chap. 1) consider ownership structure at the venture capital stage, Bebchuk and Zingales (chap. 2) discuss initial public ...