The Effect of Ownership Structure on Corporate Financial Performance in the Czech Republic

被引：0
|
作者：
Konecny, Lukas [1 ]
Castek, Ondrej [1 ]
机构：
[1] Masaryk Univ, Fac Econ & Adm, Dept Corp Econ, Lipova 41a, Brno 60200, Czech Republic
来源：
EKONOMICKY CASOPIS | 2016年 / 64卷 / 05期
关键词：
ownership structure; ownership concentration; corporate financial performance; Czech Republic; FIRM; MARKET; MANAGEMENT; VALUATION;
D O I：
暂无
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This paper seeks to examine the effect of ownership concentration on corporate financial performance in the Czech Republic. The study uses linear regression models and analyses data gathered from medium and large businesses in order to test the aforementioned relation. Using data from a sample of over 5,000 Czech businesses between 2010 and 2012, the study finds that ownership concentration expressed as the Herfindahl index has a weak, but statistically significant negative effect on corporate performance represented by return on assets. However, the data do not conclusively reveal whether the effect is monotonic or inverted U-shaped.
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页码：477 / 498
页数：22
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