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Determinants of firms’ ownership concentration in Mexico

Author

Listed:
  • Karen Watkins Fassler

    (Universidad Popular Autónoma del Estado de Puebla, México)

  • Diana Rubí Flores Vargas

    (Universidad Popular Autónoma del Estado de Puebla, México)

Abstract

High ownership concentration is common for non-financial companies, listed in the Mexican Stock Market during the period 2001-2012. This characteristic does not change considerably in time, except taking into account normal versus financial crisis periods. Through panel data analysis it is possible to determine that two of the most important variables in order to explain ownership concentration are return on assets and the percentage of independent Board members. Nevertheless, ownership structure is also conditioned by psychological and cultural factors, and the degree of investor protection has an important influence on proprietorship.

Suggested Citation

  • Karen Watkins Fassler & Diana Rubí Flores Vargas, 2016. "Determinants of firms’ ownership concentration in Mexico," Contaduría y Administración, Accounting and Management, vol. 61(2), pages 224-242, Abril-Jun.
    • Handle: RePEc:nax:conyad:v:61:y:2016:i:2:p:224-242
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