Download or read book The Effect of Changes in Ownership Structure on Performance written by Rebel A. Cole and published by . This book was released on 2008 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: Restrictions on the ownership structure of a public company may harm the company's performance by preventing owners from choosing the best structure. We examine the stock-price performance and ownership structure, before and after the expiration of anti-takeover regulations, of a sample of thrift institutions that converted from mutual to stock ownership. We find that after the anti-takeover provisions expire, firm performance improves significantly, and the portions of the firm owned by managers, noninstitutional outside block holders, and the firm's employee stock ownership plan increase. Changes in performance are positively associated with changes in ownership by managers and by noninstitutional outside block holders but negatively associated with changes in ownership by employee stock ownership plans.
Download or read book The Effects of Changes in Ownership Structure on Performance written by Rebel A. Cole and published by . This book was released on 2010 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: Restrictions on stock ownership may harm a company's performance because restrictions prevent owners from choosing an optimal structure. We examine the stock-price performance and ownership structure of a sample of thrift institutions that converted from mutual to stock ownership. We find that, after conversion and the expiration of ownership-structure restrictions, firm performance improves significantly, and the portions of the firm owned by managers and the firm's employee stock ownership plan increase. Changes in performance are positively associated with changes in ownership by managers, but negatively associated with changes in ownership by employee stock ownership plans.
Download or read book The Effect of Changes in Ownership Structure on Performance written by Rebel A. Cole and published by . This book was released on 1996 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Effects of Changes in Ownership Structure on Performance written by Rebel A. Cole and published by . This book was released on 1996 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Corporate Governance Ownership Structure and Firm Performance written by Hoang N. Pham and published by Routledge. This book was released on 2022-01-25 with total page 190 pages. Available in PDF, EPUB and Kindle. Book excerpt: The relationship between ownership structure and firm performance has been studied extensively in corporate finance and corporate governance literature. Nevertheless, the mediation (path) analysis to examine the issue can be adopted as a new approach to explain why and how ownership structure is related to firm performance and vice versa. This approach calls for full recognition of the roles of agency costs and corporate risk-taking as essential mediating variables in the bi-directional and mediated relationship between ownership structure and firm performance. Based on the agency theory, corporate risk management theory and accounting for the dynamic endogeneity in the ownership–performance relationship, this book develops two-mediator mediation models, including recursive and non-recursive mediation models, to investigate the ownership structure–firm performance relationship. It is demonstrated that agency costs and corporate risk-taking are the ‘missing links’ in the ownership structure–firm performance relationship. Hence, this book brings into attention the mediation and dynamic approach to this issue and enhances the knowledge of the mechanisms for improving firm’s financial performance. This book will be of interest to corporate finance, management and economics researchers and policy makers. Post-graduate research students in corporate governance and corporate finance will also find this book beneficial to the application of econometrics into multi-dimensional and complex issues of the firm, including ownership structure, agency problems, corporate risk management and financial performance.
Download or read book choice of ownership structure and firm performance written by derek c. jones, panu kalmi and niels mygind and published by . This book was released on 2003 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Corporate Governance Strengthening Latin American Corporate Governance The Role of Institutional Investors written by OECD and published by OECD Publishing. This book was released on 2011-07-01 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report reflects long-term, in-depth discussion and debate by participants in the Latin American Roundtable on Corporate Governance.
Download or read book Ownership Structure and Corporate Performance written by Katinka Wölfer and published by Peter Lang Gmbh, Internationaler Verlag Der Wissenschaften. This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book illustrates that the impact of ownership on firm value depends not only on the concentration of ownership but also on the identity of blockholders. Large shareholders can use their power to influence corporate performance. However, owners are no homogenous group and have different motivations and abilities.
Download or read book The Impact of Ownership Structure and Executive Team Composition on Firm Performance written by Eva M. Meyerson and published by Coronet Books. This book was released on 1992 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: Based on a survey of 29 public companies conducted in 1980-1988.
Download or read book Enterprise Performance and Ownership Changes in Polish Firms written by Piotr Kozarzewski and published by . This book was released on 2009 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper consists of two parts. In the first part, the authors briefly summarize the results of previous analyses devoted to such issues of relevance as the ownership structure of privatized companies in Poland and how it changed over the course of the 1990s, what factors seemed to have influenced those changes, the economic performance of these companies, and the composition of corporate governance organs such as supervisory and executive boards. In the second part, the authors present the results of econometric analysis of the relationship between performance and ownership structure evolution, focusing on concentration and the respective roles of three types of owners - managers, non-managerial employees, and strategic outside investors. In reference to the debate about whether ownership variables are exogenous or endogenous for performance, they test both hypotheses concerning the effect of ownership on performance and concerning the effect of performance on ownership change.
Download or read book Ownership Structure as a Determinant of Capital Structure An Empirical Study of DAX Companies written by Christian Funke and published by GRIN Verlag. This book was released on 2007-07 with total page 109 pages. Available in PDF, EPUB and Kindle. Book excerpt: Diploma Thesis from the year 2003 in the subject Business economics - Investment and Finance, grade: 1,1 (A), European Business School - International University Schlo Reichartshausen Oestrich-Winkel (Endowed-Chairf for Corporate Finance and Capital Markets), language: English, abstract: The idea that the general characteristics of a firm's ownership structure can affect performance has achieved considerable attention and related research brought forward relatively consistent empirical evidence e.g. on the positive impact of managerial ownership on firm performance. However, the evidence on the relation between ownership and capital structure is less consistent and numerous, although there are good reasons to believe that there may be such a relationship. Since the capital structure irrelevance propositions of MODIGLIANI/MILLER economists have devoted considerable time to studying cross-sectional and time-series variations in capital structure. More recent work following the seminal contribution by JENSEN/MECKLING has employed an agency theory perspective in the search for an explanation of capital structure variations. With this managerial perspective capital structure is not only explained by variations in internal and external contextual factors of the firm, but also by the values, goals, preferences and desires of managers. Corporate financing decisions are influenced by managers' incentives and the incentives for managers to act opportunistically can be influenced by the ownership structure of the firm. However, most empirical work analyzing a firm's capital structure in cross-sectional and time-series studies ignores the equity ownership structure as a possible explanatory variable. This can be partly explained by problems associated with the availability of ownership data, when compared to readily available accounting and market data on other relevant variables. Notwithstanding, it entails a problem of model misspecification as omitting a relevant variable
Download or read book The Relationship Between Corporate Performance and Ownership Structure written by Hicabi Ersoy and published by . This book was released on 2017 with total page 11 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study investigates the effects of ownership structure on the performance of the listed companies in BorsaIstanbul Stock Exchange 30 Firms (BIST 30). The main hypothesis of our study is that there is a significant relationship between companies' performances and their ownership structures. The statistical population includes 19 non-financial companies in the period of years between 2008 and 2013. The results show that, the concentration of the large shares of companies one or a few shareholders has a negative effect on related firm's performance.
Download or read book Does Ownership Structure Affect Corporate Performance Evidence from the Divestiture Market written by Michael J. Bennett and published by . This book was released on 2009 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the effect of ownership structure on the market assessment of asset sales. Three types of ownership structures are identified: large block outside, inside, and widely held. Empirical results indicate that firms with large block outside shareholders experience significantly positive announcement effects for both buying and selling firm samples. These are significantly greater than those for the inside shareholder and large widely held firms. This paper also examines whether ownership structure of the firm being transacted with and disclosure of the price of the transaction has an effect on the market assessment of the deal.lease enter abstract text here.
Download or read book Development of Ownership Structure and Its Effect on Performance written by Evžen Kočenda and published by . This book was released on 2002 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Impact of Ownership Structure on Performance of Firms Evidence from KSE 100 Index Firms written by Hassan Raza Syed and published by . This book was released on 2009 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This study deals with ownership concentration and mix and shows their effects on financial and market performance of firm. The analysis is performed on the data from listed companies of Karachi Stock Exchange of Pakistan. By using OLS regression model and descriptive statistics, firstly it is found that ownership concentration has positive but insignificant effect on financial performance of firms, whereas it has negative and significant effect on the market performance of firms. Secondly, It is revealed that the fraction of state ownership, legal person ownership and the individual person ownership is irrelevant to the firm performance as all has the same effects.
Download or read book Ownership Structure Corporate Governance and Firm Performance written by Vedat Mizrahi and published by LAP Lambert Academic Publishing. This book was released on 2011-08 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt: Do corporate governance practices affect firm performance? Are shareholders willing to pay a premium for higher governance standards? How does the ownership structure of a firm affect its corporate governance practices and firm performance? This book investigates whether differences in the quality of firm-level corporate governance affects firm performance. Constructing a broad corporate governance index for listed Turkish companies, it is documented that there is a positive relationship between governance scores and Tobin's Q as a measure for firm performance. Firms with better corporate governance scores in the model used in this book have higher firm values, which implies that firms can increase shareholder value by restructuring their corporate governance standards. The analysis also sheds light on the impact of ownership structure on stock performance. Listed companies withhigher corporate governance scores and higher foreign ownership ratios experienced a smaller reduction in their share prices during the equity market crash in Turkey parallel to the global equity markets between 2008 and 2009.
Download or read book The Effect of Ownership and Competitive Pressure on Firm Performance in Transition Countires Micro Evidence from Bulgaria Romania and Poland written by Manuela Angelucci and published by . This book was released on 2002 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:
