Ownership Structure of Publicly Traded Newspaper Companies and Their Financial Performance
AbstractThis study examined the effects of ownership structure on the financial performance of publicly traded newspaper companies. The results showed that the level of institutional ownership in a year was negatively associated with the subsequent year's profitability, as measured by return on equity and return on assets. Increased insider ownership in a given year was followed by decreased debt-to-equity ratio in the next year. Agency theory and financial control theory were discussed.
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Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal Journal of Media Economics.
Volume (Year): 19 (2006)
Issue (Month): 2 ()
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Web page: http://www.tandfonline.com/HMEC20
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