2.2.3 Conclusion

The preceding account has shown that ownership disclosure rules can serve to improve, through various mechanisms, market efficiency as well as corporate governance. This is an important observation for our purposes, because it implies that lawmakers from different countries may have different motivations when setting the level of ownership disclosure. We will use this insight later in the chapter, when we explore the relationship between the stringency of ownership disclosure rules and other legal and economie variables, and when we discuss the future of ownership disclosure rules.1