Ownership Structure Firm Performance And Stock Market Comovement
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Ownership Structure Firm Performance And Stock Market Comovement
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Author : Jin Tang
language : en
Publisher:
Release Date : 2002
Ownership Structure Firm Performance And Stock Market Comovement written by Jin Tang and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with categories.
Does Ownership Structure Affect Firm Value Evidence From The Egyptian Stock Market
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Author : Dr. Shahira F. Abdel Shahid
language : en
Publisher:
Release Date : 2003
Does Ownership Structure Affect Firm Value Evidence From The Egyptian Stock Market written by Dr. Shahira F. Abdel Shahid and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with categories.
Corporate governance addresses the checks and balances placed in the system to prevent abuse of power. Such power may reside in a Chief Executive Officer, if ownership of a company is widely dispersed (as in the case of US or UK) or it may rest in the hands of an individual or a group(s) with controlling shareholding as more happens in markets dominated by family ownership. Thus, who owns the firm's equity and how does ownership affect firm value has been a topic investigated by researchers for decades. Thus, the impact of ownership structure on firm performance has been widely tackled in various developed markets and more recently in emerging markets, but was not addressed before, in Egypt. The paper aims to explore if there are dominant certain types of owners of actively listed and traded companies on Cairo amp; Alexandria Stock Exchanges. Further, it investigates whether the ownership type affects some key accounting and market performance indicators of listed firms. The 90 most actively listed companies on CASE, that constitute the bulk of trading, were chosen to constitute the sample of the study as of end of 2000. The findings indicate the presence of highly concentrated ownership structure in the Egyptian market. The results of the regression analyses indicate that the dispersed ownership percentage influences certain dimensions of accounting performance indicators (i.e. ROA and ROE) but not stock market performance indicators (i.e. P/E and P/BV ratios), which indicate that there might be other factors (economic, political, contextual) affecting firms performance other than ownership structure, which supports the findings of Heracleous (2001) that researches must develop methodologies that can account for multiple, systemic and multi-directional influences on firm performance and avoid models that attempt to correlate only one element such as ownership structure with firm performance.
Choice Of Ownership Structure And Firm Performance
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Author : derek c. jones, panu kalmi and niels mygind
language : en
Publisher:
Release Date : 2003
Choice Of Ownership Structure And Firm Performance written by derek c. jones, panu kalmi and niels mygind and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with categories.
Ownership Structure As A Determinant Of Capital Structure An Empirical Study Of Dax Companies
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Author : Christian Funke
language : en
Publisher: GRIN Verlag
Release Date : 2007-07
Ownership Structure As A Determinant Of Capital Structure An Empirical Study Of Dax Companies written by Christian Funke and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-07 with Business & Economics categories.
Diploma Thesis from the year 2003 in the subject Business economics - Investment and Finance, grade: 1,1 (A), European Business School - International University Schlo Reichartshausen Oestrich-Winkel (Endowed-Chairf for Corporate Finance and Capital Markets), language: English, abstract: The idea that the general characteristics of a firm's ownership structure can affect performance has achieved considerable attention and related research brought forward relatively consistent empirical evidence e.g. on the positive impact of managerial ownership on firm performance. However, the evidence on the relation between ownership and capital structure is less consistent and numerous, although there are good reasons to believe that there may be such a relationship. Since the capital structure irrelevance propositions of MODIGLIANI/MILLER economists have devoted considerable time to studying cross-sectional and time-series variations in capital structure. More recent work following the seminal contribution by JENSEN/MECKLING has employed an agency theory perspective in the search for an explanation of capital structure variations. With this managerial perspective capital structure is not only explained by variations in internal and external contextual factors of the firm, but also by the values, goals, preferences and desires of managers. Corporate financing decisions are influenced by managers' incentives and the incentives for managers to act opportunistically can be influenced by the ownership structure of the firm. However, most empirical work analyzing a firm's capital structure in cross-sectional and time-series studies ignores the equity ownership structure as a possible explanatory variable. This can be partly explained by problems associated with the availability of ownership data, when compared to readily available accounting and market data on other relevant variables. Notwithstanding, it entails a problem of model misspecification as omitting a relevant variable
Management Share Ownership
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Author : Christian Alexander Wegener
language : en
Publisher: GRIN Verlag
Release Date : 2011-01-31
Management Share Ownership written by Christian Alexander Wegener and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-01-31 with Business & Economics categories.
Seminar paper from the year 2006 in the subject Business economics - Investment and Finance, grade: sehr gut, University of Münster (Finance Center Münster), language: English, abstract: Many scholars have analyzed whether and how management share ownership should be used in terms of a corporate governance instrument to enhance corporate performance. The empirical results, however, have been inconclusive till this day. This seminar paper attempts to explain the problems and difficulties that underlie the obscurity and how researches might eventually unravel this challenge.
Impact Of Ownership Structure On Performance Of Firms Evidence From Kse 100 Index Firms
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Author : Hassan Raza Syed
language : en
Publisher:
Release Date : 2009
Impact Of Ownership Structure On Performance Of Firms Evidence From Kse 100 Index Firms written by Hassan Raza Syed and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with categories.
This study deals with ownership concentration and mix and shows their effects on financial and market performance of firm. The analysis is performed on the data from listed companies of Karachi Stock Exchange of Pakistan. By using OLS regression model and descriptive statistics, firstly it is found that ownership concentration has positive but insignificant effect on financial performance of firms, whereas it has negative and significant effect on the market performance of firms. Secondly, It is revealed that the fraction of state ownership, legal person ownership and the individual person ownership is irrelevant to the firm performance as all has the same effects.
The Impact Of Ownership Structure On Firm Performance
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Author : Sytse Wybren Douma
language : en
Publisher:
Release Date : 2002
The Impact Of Ownership Structure On Firm Performance written by Sytse Wybren Douma and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with categories.
Ownership Structure And Firm Performance In Russia
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Author : Pavel V. Kuznecov
language : en
Publisher:
Release Date : 2001
Ownership Structure And Firm Performance In Russia written by Pavel V. Kuznecov and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with categories.
Ownership Structure Board Characteristics And Financial Performance
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Author : Sabur Mollah
language : en
Publisher:
Release Date : 2014
Ownership Structure Board Characteristics And Financial Performance written by Sabur Mollah and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with categories.
Despite vast majority corporate governance and firm performance literature in recent years, there is none on Botswana's corporate sector. This study investigates the relationship between ownership structure, board characteristics and financial performance to determine the role of corporate governance in the performance behavior of companies listed in an emerging market like Botswana. The approach of this study is different from available literature in capturing all types of shareholdings together in addition to other corporate governance and firm-specific control variables. The empirical evidence shows distinct nature of corporate governance behavior among alternative performance measures used, in particular between accounting-based/hybrid and market-based measures. Such diversity in findings provides insights to policy-makers to take appropriate measures on corporate governance and stock market development in order to ensure their efficiency.
The Relationship Between Corporate Performance And Ownership Structure
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Author : Hicabi Ersoy
language : en
Publisher:
Release Date : 2017
The Relationship Between Corporate Performance And Ownership Structure written by Hicabi Ersoy and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with categories.
This study investigates the effects of ownership structure on the performance of the listed companies in BorsaIstanbul Stock Exchange 30 Firms (BIST 30). The main hypothesis of our study is that there is a significant relationship between companies' performances and their ownership structures. The statistical population includes 19 non-financial companies in the period of years between 2008 and 2013. The results show that, the concentration of the large shares of companies one or a few shareholders has a negative effect on related firm's performance.