Shapiro & Pham: Who Owns America’s Oil and Natural Gas Companies – 2014 Update

From the Executive Summary:

The broad ownership of America’s public corporations, as researchers have found, yields substantial economic and social benefits. It encourages companies to focus on investments that can secure strong returns, including new plant and equipment, research and development (R&D), and employment and training of highly-qualified personnel. Broad corporate ownership also generates capital that companies need to increase their efficiency and innovative capacities. Most important, the broad ownership of U.S. corporations promotes social progress by enabling large numbers of Americans to benefit from the returns generated by efficient, productive and innovative enterprises.

This study examines the distribution of ownership of one of our key industries, U.S. oil and natural gas companies. The data show that the ownership of companies in the oil and natural gas industry is very broad-based, including large holdings in the retirement plans of ordinary investors.

Available for download here.