scholarly journals Ownership Concentration and Economic and Financial Performance in Latin-American Companies

2018 ◽  
Vol 4 (4) ◽  
pp. 1
Author(s):  
Tarcísio Pedro da Silva ◽  
Maurício Leite ◽  
Jaqueline Carla Guse ◽  
Tania Cristina Chiarello
Keyword(s):  
Financial Performance ◽  
Latin American ◽  
Ownership Structure ◽  
Ownership Concentration ◽  
American Depository Receipts ◽  
Publicly Traded ◽  
Linear Combinations ◽  
Depository Receipts ◽  
Relationship Of ◽  
The Relationship

The study examined the relationship of ownership concentration in the economic and financial performance of publicly traded Latin American companies possessing American Depository Receipts (ADRs). Generally, the capital structure decisions are tied directly to the results of the organizations, thus reflecting the economic and financial performance. The correlation between the set of variables within the group of ownership structure with the group of economic and financial performance showed significant correlation with the linear combinations, when analyzed in the set of all the samples of companies and taken separately by country. However, the results did not show similar correlation to Venezuela, Colombia and Peru due to the existence of few observations. The results also portrayed a significant correlation within economic and financial performance, higher to Mexican companies, when compared with the results of other countries and among the set of the two groups of variables that highlighted the analysis by ownership structure and economic and financial performance as well.

scholarly journals Diversified Ownership Structure and Dividend Pay‑outs of Publicly Traded Companies

2019 ◽  
Vol 6 (345) ◽  
pp. 93-110
Author(s):  
Aleksandra Pieloch-Babiarz
Keyword(s):  
Ownership Structure ◽  
Stock Exchange ◽  
Basic Research ◽  
Ownership Concentration ◽  
Tobit Regression ◽  
Publicly Traded ◽  
Publicly Traded Companies ◽  
Warsaw Stock Exchange ◽  
Propensity To Pay ◽  
The Relationship

The aim of this article is to identify and characterise the relationship between the ownership structure and dividend pay‑out of listed companies. The research hypothesis states that along with an increase in a degree of ownership concentration both the propensity to pay a dividend and its amount increase. The research has been conducted on a group of 354 non‑financial companies listed on the Warsaw Stock Exchange. The basic research method is the analysis of logistic and tobit regression. The research shows that along with an increase in the complexity of the ownership structure, the share of the State Treasury, institutional investors and board members, decisions on dividend pay‑out are made more often, and the amount of dividend is higher. Examining the degree of ownership concentration expressed by the Herfindahl‑Hirschman index, diversified results have been obtained. An estimation of some regression models shows that stronger ownership concentration favours the decision to pay a dividend (dividends are paid out more frequently), however, as a degree of ownership concentration increases, a decrease in the amount of dividend is observed. The research results presented in this article are a supplement to the existing analyses carried out on the global markets and an extension of the existing research conducted on the companies listed on the Warsaw Stock Exchange.

scholarly journals STRUKTUR KEPEMILIKAN PADA PENGUNGKAPAN CORPORATE SOCIAL RESPONSIBILITY TERHADAP KINERJA

2018 ◽  
Vol 16 (2) ◽  
pp. 49-74
Author(s):  
I Dewa Made Endiana
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Financial Performance ◽  
Ownership Structure ◽  
Stock Exchange ◽  
Sample Technique ◽  
Corporate Social ◽  
Relationship Of ◽  
The Relationship ◽  
Positive Effect

The performance achieved by the company is very important to assess because itrelates to the prospects and sustainability of the company in the future. Achievingmaximum performance is strongly influenced by several factors, one of which isCorporate Social Responsibility (CSR). This study aims to determine the effect ofownership structure on corporate social responsibility on financial performance of miningcompanies in the Indonesia Stock Exchange for the period 2013-2017. Population is amining company on the Indonesia Stock Exchange. The sample technique was selectedusing purposive sampling, namely the method of determining the sample with certaincriteria so that the number of samples obtained was 11 companies, so the number ofobservations with a study period of 5 years was 55 observations. The results obtained inthis study that corporate social responsibility have a positive effect on performance whilethe ownership structure is not able to strengthen or weaken the relationship of corporatesocial responsibility to the financial performance (ROA) of mining companies listed onthe Indonesia Stock Exchange.  

scholarly journals Equity Ownership and Financial Performance

2011 ◽  
Vol 2 (4) ◽  
pp. 131-137
Author(s):  
Aman Srivastava
Keyword(s):  
Financial Performance ◽  
Performance Measures ◽  
Ownership Structure ◽  
Stock Exchange ◽  
Listed Companies ◽  
Least Square ◽  
Ownership Type ◽  
Equity Ownership ◽  
Relationship Of ◽  
The Relationship

This paper attempts to examine the relationship of equity ownership and financial performance of firms in India. The study explored the possibility that whether equity ownership type affects the financial performance of listed Indian firms. The study examined the relationship of equity ownership with accounting as well as market measures of financial performance of the firms. The study sampled the 500 listed companies constituting BSE 500 indices of Bombay Stock Exchange of India. The 397 most actively listed companies on BSE 500 indices of Bombay Stock Exchange of India, which constitute the bulk of trading, were chosen to constitute the sample of the study as of end of 2009-10. The study used Ordinary least square (OLS) to examine the relationship between the equity ownership and financial performance of the Indian listed firms. The findings of the study depict the presence of highly concentrated ownership structure in the Indian market. The results of the regression analyses interestingly indicate that the dispersed equity ownership influences certain dimensions of accounting financial performance measures (i.e. ROA and ROE) but not market performance measures (i.e. Tobin’s Q, P/E and P/BV ratios), which indicate that there might be other factors (Behavioral, macro economic, political, contextual) affecting firms performance other than ownership structure. The findings of the study might be relevant for practitioners and investors for taking their financing and investment decisions.

“Borderland” as a way of preserving and asserting identity. The historical experience of the Native American cultures of Latin America in a universal context

2021 ◽  
pp. 83
Author(s):  
Yakov Shemyakin
Keyword(s):  
Latin America ◽  
Native American ◽  
Latin American ◽  
Historical Experience ◽  
Cultural System ◽  
Relationship Of ◽  
The Relationship ◽  
Linguistic Reality

The article substantiates the thesis that modern Native American cultures of Latin America reveal all the main features of "borderland" as a special state of the socio-cultural system (the dominant of diversity while preserving the unity sui generis, embodied in the very process of interaction of heterogeneous traditions, structuring linguistic reality in accordance with this dominant, the predominance of localism in the framework of the relationship between the universal and local dimensions of the life of Latin American societies, the key role of archaism in the system of interaction with the heritage of the 1st "axial time», first of all, with Christianity, and with the realities of the "second axial time" - the era of modernization. The author concludes that modern Indian cultures are isomorphic in their structure to the "borderline" Latin American civilization, considered as a "coalition of cultures" (K. Levi-Strauss), which differ significantly from each other, but are united at the deepest level by an extremely contradictory relationship of its participants.

Global financial crisis, ownership structure and firm financial performance

2017 ◽  
Vol 34 (4) ◽  
pp. 447-465 ◽  
Author(s):  
Ali Salman Saleh ◽  
Enver Halili ◽  
Rami Zeitun ◽  
Ruhul Salim
Keyword(s):  
Financial Crisis ◽  
Financial Performance ◽  
Ownership Structure ◽  
Family Firms ◽  
Global Financial Crisis ◽  
Ownership Concentration ◽  
Financial Leverage ◽  
Content Type ◽  
Crisis Period ◽  
The Global Financial Crisis

Purpose This paper aims to investigate the financial performance of listed firms on the Australian Securities Exchange (ASX) over two sample periods (1998-2007 and 2008-2010) before and during the global financial crisis periods. Design/methodology/approach The generalized method of moments (GMM) has been used to examine the relationship between family ownership and a firm’s performance during the financial crisis period, reflecting on the higher risk exposure associated with capital markets. Findings Applying firm-based measures of financial performance (ROA and ROE), the empirical results show that family firms with ownership concentration performed better than nonfamily firms with dispersed ownership structures. The results also show that ownership concentration has a positive and significant impact on family- and nonfamily-owned firms during the crisis period. In addition, financial leverage had a positive and significant effect on the performance of Australian family-owned firms during both periods. However, if the impact of the crisis by sector is taking into account, the financial leverage only becomes significant for the nonmining family firms during the pre-crisis period. The results also reveal that family businesses are risk-averse business organizations. These findings are consistent with the underlying economic theories. Originality/value This paper contributes to the debate whether the ownership structure affects firms’ financial performance such as ROE and ROA during the global financial crisis by investigating family and nonfamily firms listed on the Australian capital market. It also identifies several influential drivers of financial performance in both normal and crisis periods. Given the paucity of studies in the area of family business, the empirical results of this research provide useful information for researchers, practitioners and investors, who are operating in capital markets for family and nonfamily businesses.

scholarly journals The Relation between Sustainable Innovation Strategy and Financial Performance Mediated By Environmental Performance

2015 ◽  
Vol 9 (2) ◽  
pp. 146
Author(s):  
Hariyati Hariyati ◽  
Bambang Tjahjadi
Keyword(s):  
Financial Performance ◽  
Environmental Performance ◽  
Quantitative Research ◽  
Innovation Strategy ◽  
Business Unit ◽  
Unit Of Analysis ◽  
Sustainable Innovation ◽  
Manufacturing Company ◽  
Relationship Of ◽  
The Relationship

This study aims to examine the relationship of sustainable innovation strategy and financial performance through the mediation environmental performance. The hypothesis in this study is sustainable innovation strategy affect the financial performance which is mediated by environmental performance. This study is quantitative research in the explanatory level. The population of this study is all the manufacturer companies in East Java. The data is collected through questionnaire. The unit of analysis is a business unit. The respondent of this study is the manager of a business unit manufacturing company in East Java. The results showed that the environmental performance mediates partially the relation between sustainable innovation strategy and financial performance.<br /><br />

Corporate Governance and Firm Performance

2015 ◽  
pp. 257-274
Author(s):  
Devanjali Nandi ◽  
Arindam Das
Keyword(s):  
Corporate Governance ◽  
Ownership Structure ◽  
Stock Price ◽  
Panel Data Analysis ◽  
Negative Relationship ◽  
Crisis Period ◽  
Price Performance ◽  
Time Period ◽  
Relationship Of ◽  
The Relationship

Ownership structure is considered to be of prime importance in corporate governance of a firm. The ownership structure significantly varies across the nations. The main focus of this chapter is twofold: firstly to see the impact of ownership structure on performance of the firm and secondly to investigate the relationship between stock market performance and ownership structure during the crisis period. Panel data analysis of CNX 200 companies has been done for the time period of 2006-2013.The study also takes into account the relationship between crisis period stock return and ownership structure. The results of this study reveal a positive relationship of promoter's shareholding with performance while a negative relationship of performance is found with the non-promoters shareholding. The regression of stock price performance on ownership variable gives a significant negative relationship during the crisis period.

Innovation and Agronomy

2016 ◽  
pp. 392-418
Author(s):  
Ariel R. Soto Caro
Keyword(s):  
Developing Countries ◽  
Latin American ◽  
Emerging Economies ◽  
Public Policies ◽  
Agricultural Industry ◽  
Representative Case ◽  
World Power ◽  
Relationship Of ◽  
The Relationship ◽  
Latin American Countries

This chapter presents an empirical discussion about the relationship of agricultural industry and innovation in emerging economies. Then, a general revision of the innovation, agronomy and public policies associated will be reviewed. This chapter is immersed in the Chilean case. The author justifies that Chile can be a representative case because it is a country that wishes to become a world power in agro-food, but has very low investment in innovation. Besides, it has very low participation of agricultural innovative firms in the market. After the background is presented, innovation and development will be reviewed; subsequently, innovation in developing countries will be discussed, concluding with agro-innovation in Latin-American countries, especially in Chile.

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