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Ownership Structure of Publicly Traded Newspaper Companies and Their Financial Performance


  • Soontae An
  • Hyun Seung Jin
  • Todd Simon


This study examined the effects of ownership structure on the financial performance of publicly traded newspaper companies. The results showed that the level of institutional ownership in a year was negatively associated with the subsequent year's profitability, as measured by return on equity and return on assets. Increased insider ownership in a given year was followed by decreased debt-to-equity ratio in the next year. Agency theory and financial control theory were discussed.

Suggested Citation

  • Soontae An & Hyun Seung Jin & Todd Simon, 2006. "Ownership Structure of Publicly Traded Newspaper Companies and Their Financial Performance," Journal of Media Economics, Taylor & Francis Journals, vol. 19(2), pages 119-136.
  • Handle: RePEc:taf:jmedec:v:19:y:2006:i:2:p:119-136
    DOI: 10.1207/s15327736me1902_3

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    Cited by:

    1. Maureen Muller-Kahle, 2015. "The impact of dominant ownership: the case of Anglo-American firms," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 19(1), pages 71-89, February.

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