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Large Shareholders and Profitability of Telecommunication Firms in Eastern Europe and the Black Sea Region

In: Advances in Cross-Section Data Methods in Applied Economic Research

Author

Listed:
  • Ioannis Antoniadis

    (University of Western Macedonia)

  • Theodoros Parganas

    (Hellenic Telecommunications Organization)

  • Kontstantinos Spinthiropoulos

    (University of Western Macedonia)

Abstract

This paper examines the relationship between the performance of the firm and ownership structure in the telecommunication companies of Eastern Europe and the Black Sea region. More specifically we focus on the ownership percentage the large shareholder of the company owns and its effect on profitability measures of performance (ROA and ROE) of the firms. A balanced panel is used for 14 telecommunication companies from 11 countries of the region is used for the period 2012–2015. Our results indicate the existence of a non-linear relationship between large shareholder ownership and performance, suggesting the existence of agency problems.

Suggested Citation

  • Ioannis Antoniadis & Theodoros Parganas & Kontstantinos Spinthiropoulos, 2020. "Large Shareholders and Profitability of Telecommunication Firms in Eastern Europe and the Black Sea Region," Springer Proceedings in Business and Economics, in: Nicholas Tsounis & Aspasia Vlachvei (ed.), Advances in Cross-Section Data Methods in Applied Economic Research, chapter 0, pages 615-625, Springer.
    • Handle: RePEc:spr:prbchp:978-3-030-38253-7_40
    DOI: 10.1007/978-3-030-38253-7_40
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    More about this item

    Keywords

    Corporate governance; Ownership; Performance; Large shareholders; Agency problem; Telecommunications;
    All these keywords.

    JEL classification:

    • L22 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Organization and Market Structure
    • L96 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Telecommunications

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