Author(s):
Lisboa, Inês Margarida Cadima 
Date: 2007
Persistent ID: http://hdl.handle.net/10400.8/116
Origin: IC-online
Subject(s): Ownership structure; Insider ownership; Firm performance; Europe
Document details
Does ownership influence performance? Evidence from Europe
Description
Dissertação de Mestrado apresentada à Escola de Gestão do ISCTE para obtenção do grau de Mestre em Finanças. We provide new evidence on the impact of ownership over firm performance, using a panel data of 853 corporate firms from 9 Continental European countries from 2000 to 2004. We confirm that owner-manager is significantly better performer than professional manager, due to the convergence effect. Moreover, this impact was found to be much more significant than ownership, whose link with performance could not be established. Additionally, ownership structure is not an endogenous variable as it does not vary in order to maximize the firm’s performance, remaining relatively stable over time. Finally, we find evidence of several country and industry effects.
Dissertação de Mestrado apresentada à Escola de Gestão do ISCTE para obtenção do grau de Mestre em Finanças. We provide new evidence on the impact of ownership over firm performance, using a panel data of 853 corporate firms from 9 Continental European countries from 2000 to 2004. We confirm that owner-manager is significantly better performer than professional manager, due to the convergence effect. Moreover, this impact was found to be much more significant than ownership, whose link with performance could not be established. Additionally, ownership structure is not an endogenous variable as it does not vary in order to maximize the firm’s performance, remaining relatively stable over time. Finally, we find evidence of several country and industry effects.
Document Type
Master Thesis
Language English
Language English
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