The voting premium, defined as the total vote value (value of a vote times the number of votes) as a proportion of the firm's equity market value is only about 2 percent in the United States and 36 percent in Mexico, suggesting that in Mexico,

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A high voting premium in Mexico suggests that dominant shareholders are able to extract significant private benefits of control, at the expense of minority shareholders. In comparison, the low voting premium in the United States suggests that minority shareholders have relatively greater control and ability to limit the private benefits extracted by dominant shareholders.

The Voting Premium, Defined as the Total Vote Value (Value