המלצות ועדת הריכוזיות לשנת 2012

2. .1
.2
.3
.4
.5

3. •
•
•
•
•
•
•
•
•
- •

4. •
•
•
- •
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•

6. BOT

7. .1

8. .2
₪
•
•

11. •
- •
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•
•
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12. .1
-
-
-

13. .2
.3
.4
-
.5

14. :



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16. 70%
60%
50%
40%
30%
20%
10%
0%
Faccio & Lang Claessens, Djankov & Lang
- Hogfeldt - Claessens et al.

17. 12%
88%

19. •
•
•
•
•

20. Tunneling 






21. •
•
•

22. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24
-

23. 60%
50%
40%
30%
20%
10%
0%
…
…
…
"
'
' -10%
Dyck and Zingales (2004)- Private Benefits Of Control: An International Comparison

24. –
Masulis et al. 2011- Family Business Groups around the World: Financing Advantages, Control
Motivations and Organizational Choices

25. .1
.2
.3
.4
.5

27. .1
.2
.3
.4

29. -

30. -

31. -

34. -
-
-

35. -
-
-

40. LBO

42. 1
X X X
X X X X X
X X X X X
X X X X
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X
X X X

45. - -

46. .1
.2
.3
.4
.5

47. •
•
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48. •
–
–
•
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