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Ownership Structure, Performance And Capital Structure Of Romanian Firms

Author

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  • Gabriela BRENDEA

    (Department of Economics and Business Administration, Babes-Bolyai University, Romania)

Abstract

This paper investigates how ownership concentration affects the performance and capital structure of Romanian listed firms during the period 2007 - 2011. We find that ownership concentration has no effect on firms’ performance, but has a positive effect on firms’ capital structure, when these firms have adjustment behaviour to the target capital structure. In addition, we found that debt ratio and firms’ size are the determinants of firms’ performance and firms’ performance, assets tangibility and ownership concentration are the determinants of firms’ capital structure.

Suggested Citation

  • Gabriela BRENDEA, 2014. "Ownership Structure, Performance And Capital Structure Of Romanian Firms," Internal Auditing and Risk Management, Athenaeum University of Bucharest, vol. 36(1), pages 1-9, December.
    • Handle: RePEc:ath:journl:v:36:y:2014:i:1:p:1-9
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    Cited by:

    1. Krishna Dayal Pandey & Tarak Nath Sahu, 2021. "Ownership Concentration and Agency Crises in Indian Manufacturing Firms," Business Perspectives and Research, , vol. 9(1), pages 128-143, January.
    2. Alina ȚARAN, 2019. "Corporate ownership and capital structure: evidence from Romania," Eastern Journal of European Studies, Centre for European Studies, Alexandru Ioan Cuza University, vol. 10, pages 133-150, June.

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