Is it possible that concentrated ownership has dispersed voting power?
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Yes it is possible.
“the combination of concentrated ownership and dispersed voting power arises when there are legal restrictions on the voting rights of large share positions, known as voting caps. A number of sovereign governments have imposed voting caps to deter foreign investors from obtaining controlling ownership positions in strategically important local companies.”
Excerpt From
2022 CFA Program Level II Volume 3 Corporate Finance and Equity
CFA Institute
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