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Empirical Study on Ownership Structure and Firm Performance

Author

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  • Arunima Haldar
  • SVD Nageswara Rao

Abstract

Researchers have come up with varied assertions with regard to the relationship between ownership structure and firm performance. Studies show positive, negative as well as both positive and negative relationship at differing levels of equity holdings by managers. Majority findings argued about owner controlled firm's performance being better than manager controlled ones, yet lacking statistical assertion for the same. This research work is empirically investigating the efficiency of ownership groups in enhancing corporate performance by analyzing firms traded on Bombay Stock Exchange (BSE). We are using BSE – 500 index firms to create an unbalanced annual panel data from 2001 to 2008. By using fixed and random effect techniques of panel data analysis, we wish to contribute towards the enduring debate of corporate governance as to which ownership group maximizes firm performance. This debate has so far, largely remained inconclusive with different researchers advocating varied view points .

Suggested Citation

  • Arunima Haldar & SVD Nageswara Rao, 2011. "Empirical Study on Ownership Structure and Firm Performance," Indian Journal of Corporate Governance, , vol. 4(2), pages 27-34, July.
    • Handle: RePEc:sae:ijcgvn:v:4:y:2011:i:2:p:27-34
    DOI: 10.1177/0974686220110203
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    Citations

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    Cited by:

    1. Arunima Haldar & S. V. D. Nageswara Rao & Kirankumar S. Momaya, 2016. "Can Flexibility in Corporate Governance Enhance International Competitiveness? Evidence from Knowledge-Based Industries in India," Global Journal of Flexible Systems Management, Springer;Global Institute of Flexible Systems Management, vol. 17(4), pages 389-402, December.
    2. Nidhi Bansal & Anil K. Sharma, 2016. "Audit Committee, Corporate Governance and Firm Performance: Empirical Evidence from India," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 8(3), pages 103-116, March.
    3. Amroudi, Michael, 2021. "The Impact of Management, Family and Employee Ownership Concentration on Firm Performance," Junior Management Science (JUMS), Junior Management Science e. V., vol. 6(1), pages 81-99.
    4. Tabinda Qureshi & Waqas Mahmood, 2018. "Role of Corporate Governance in Firm “Performance and Ownership Structure†: Evidence from Listed Food Companies in Pakistan," International Journal of Economics and Financial Research, Academic Research Publishing Group, vol. 4(6), pages 188-196, 06-2018.
    5. Sudam Shrikrushna Shingade & Shailesh Rastogi, 2019. "Shareholders’ Activism and Firm Performance: A Review of Literature," Indian Journal of Commerce and Management Studies, Educational Research Multimedia & Publications,India, vol. 10(2), pages 22-30, May.
    6. Hiren Patel, 2021. "Target Price Achievement and Target Price Accuracy Models: An Analysis of Advisory Firms’ Recommendation for the Indian Banking Stocks," Global Business Review, International Management Institute, vol. 22(2), pages 459-473, April.
    7. Tripti Nashier & Amitabh Gupta, 2023. "Ownership Concentration and Firm Performance in India," Global Business Review, International Management Institute, vol. 24(2), pages 353-370, April.
    8. Krishna Dayal Pandey & Tarak Nath Sahu, 2017. "An Empirical Analysis on Capital Structure, Ownership Structure and Firm Performance: Evidence from India," Indian Journal of Commerce and Management Studies, Educational Research Multimedia & Publications,India, vol. 8(2), pages 63-72, May.

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