IDEAS home Printed from
MyIDEAS: Log in (now much improved!) to save this article

Disentangling the Performance and Entrenchment Effect of Family Shareholding: A Study of Indian Corporate Governance

Listed author(s):
  • Manoranjan Pattanayak

    (CRISIL Limited, New Delhi)

Registered author(s):

    Using an econometric framework, we examine the nature of relation between Tobin's Q and family shareholding in India. While there is no obvious causality laid down by theoretical literature, empirical evidences show a wide range of findings. In the present work, by controlling for a host of factors, we document a non-linear relation between family share holding and firm value. In the literature, the issue of endogenous problem is highlighted in the context of ownership-performance relation. We address this concern via the instrumental variable regression method. Even though the curvilinear aspect of the relation between firm value and insider share remain intact in all of the specifications, our model statistics do not trace any endogenous problem in the data.

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

    File URL:
    Download Restriction: no

    Article provided by Pepperdine University, Graziadio School of Business and Management in its journal Journal of Entrepreneurial Finance and Business Ventures.

    Volume (Year): 12 (2009)
    Issue (Month): 4 (Spring)
    Pages: 105-128

    in new window

    Handle: RePEc:pep:journl:v:12:y:2009:i:4:p:105-28
    Contact details of provider: Postal:
    24255 Pacific Coast Hwy, Malibu CA

    Web page:

    More information through EDIRC

    No references listed on IDEAS
    You can help add them by filling out this form.

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    When requesting a correction, please mention this item's handle: RePEc:pep:journl:v:12:y:2009:i:4:p:105-28. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Craig Everett)

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.