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Does Ownership Structure Affect Firm Performance

Author

Listed:
  • Raluca Georgiana Moscu
  • Carmen Judith Grigorescu
  • Ligia Prodan

Abstract

This research has investigated the effect of ownership structure and typology investor (General Manager, State), on the one hand and corporate performance of 55 listed companies in Bucharest Stock Exchange in 2010-2013, on the other hand. Statistical method used in this research was panel data. To test each hypothesis, two models defined based on dependent variables (Return on Equity – ROE, Return on Asstes – ROA) and the independent variables related to ownership structure and typology (concentrated ownership, State as a shareholders, General Manager as a shareholders). To decrease management-shareholder conflict, the solution consist in providing some shares to the General Manager, which is interested in increasing the value of his property, and hence the shareholders wealth. So the relationship between the General Manager as a shareholders and firm performance is a positive one.

Suggested Citation

  • Raluca Georgiana Moscu & Carmen Judith Grigorescu & Ligia Prodan, 2015. "Does Ownership Structure Affect Firm Performance," Knowledge Horizons - Economics, Faculty of Finance, Banking and Accountancy Bucharest,"Dimitrie Cantemir" Christian University Bucharest, vol. 7(3), pages 194-197, September.
    • Handle: RePEc:khe:journl:v:7:y:2015:i:3:p:194-197
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    Citations

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    Cited by:

    1. Aleksandra Pieloch-Babiarz, 2022. "Catering to investor sentiment for dividends: contestability or collusion of the largest shareholders?," Equilibrium. Quarterly Journal of Economics and Economic Policy, Institute of Economic Research, vol. 17(2), pages 435-457, June.
    2. Malek Hamed Alshirah & Faraj Salman Alfawareh & Ahmad Farhan Alshira’h & Ghaith Al-Eitan & Tareq Bani-Khalid & Moh’d Alsqour, 2022. "Do Corporate Governance and Gender Diversity Matter in Firm Performance (ROE)? Empirical Evidence from Jordan," Economies, MDPI, vol. 10(4), pages 1-21, April.

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