Ownership concentration, managerial ownership and firm. The impact of ownership and other corporate characteristics on. Second, many russian firms have a mixed ownership structure so that. Concentration of ownership and corporate performance. Redmond 1988 documents the rapid growth of australian institutional. Pdf the impacts of ownership structure on firm performance. Board structure, ownership structure, and performance of thai. Request pdf ownership structure and firm performance. This disclosure raises an important research question on the effectiveness of debt structure in enhancing performance of quoted firms in nigeria. Documents in econstor may be saved and copied for your. The remainder of the paper is organized as follows. The impacts of ownership structure on firm performance.
Nowadays, the main issue for capital structure is how to resolve the conflict on the firms resources between managers and owners jensen, 1989. Ownership structure characteristics and firm performance. Ownership structure, independent chair and firm performance. Ownership concentration, managerial ownership and firm performance. Furthermore, two stage least squares 2sls regression model is. This study examines the relationship between ownership structure and firm per formance using a sample of firms listed on the zagreb stock. Evaluating the effect of ownership structure on firm performance. Pdf the purpose of this study is to examine the impacts of.
Performance is weakest when state ownership takes the form minority, regional or direct ownership. Cg and the choice of capital structure may help mitigate these agency costs. Cg is an important factor in improving the value and performance of the firm and the. Ownership structure and profitability of listed firms in an. The objective of the paper is to survey the theoretical basis for and empirical evidences on the impact of ownership structure on firm performance. The relationship between the various aspects of ownership structure namely ownership concentration. In section 2 theoretical and empirical issues are discussed. Using a data set of listed firms domiciled in taiwan, this paper aims to empirically assess the effects of ownership structure and board of directors on firm value.
If the inline pdf is not rendering correctly, you can download the pdf file here. Evidence from nigerian listed companies this paper examines the relationship between firms ownership structure and financial performance. We distinguish between family firms, firms controlled by partnerships of individuals, concern controlled firms, and firms where blockholders have less than 50% of the vote. The study examines the effect of ownership structure on firm performance. Board structure, ownership structure and firm performance 47 important than ever for boards to revisit their size and determine the right number to carry out effective and responsible firm governance. The empirical work analyzes data on 280 israeli firms and employs the technique of data envelopment analysis. Previous literature documents an inverse relation between firm size and performance. Official state documents emphasize the need to improve the. Pdf agency theory suggests that allowing managers to participate in firms ownership assists as an operative instrument to cut agency costs.
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