Effects of ownership concentration on firm performance: Pakistani evidence

Qaiser Rafique, Yasser and Abdullah, Al-Mamun (2015) Effects of ownership concentration on firm performance: Pakistani evidence. Journal of Asia Business Studies, 9 (2). pp. 162-176. ISSN 1558-7894

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Abstract

Purpose – This paper aims to present an analysis of the association between five categories of concentrated ownership and firm performance in Pakistan. The connection between high ownership concentration and firm performance has attracted much attention, especially in emerging market, yet yielded many inconsistent empirical results. Design/methodology/approach – Karachi Stock Exchange (KSE)-100 Indexed companies listed in KSE from 2007 to 2011 were selected as the sample, and correlation coefficient and regression model were used to inspect the relationship between ownership concentration degree and corporate performance. Findings – It was found that there is no significant association with ownership concentration and accounting-based performance, market-based performance measures and economic profit, in general. Originality/value – The first demonstration that the shareholding proportion of the single largest shareholder is the only variable having positive association with market-based performance measures.

Item Type: Article
Uncontrolled Keywords: Ownership, Agency theory, research, Universiti Malaysia Sarawak, unimas, university, universiti, Borneo, Malaysia, Sarawak, Kuching, Samarahan, ipta, education
Subjects: H Social Sciences > H Social Sciences (General)
Divisions: Academic Faculties, Institutes and Centres > Faculty of Economics and Business
Depositing User: Karen Kornalius
Date Deposited: 18 Feb 2016 06:54
Last Modified: 21 Oct 2016 05:52
URI: http://ir.unimas.my/id/eprint/10589

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