scholarly journals The Influence of Ownership Structure on Firms’ R&D Investments: An Empirical Investigation

2021 ◽  
Vol 6 (4) ◽  
pp. 103-107
Author(s):  
Zhi-Hong Song ◽  
Xue Wang ◽  
Dong-Mei Lee
Keyword(s):  
Ownership Structure ◽  
Empirical Investigation ◽  
Negative Impact ◽  
Stock Exchange ◽  
Mining Industry ◽  
Research Database ◽  
Concentrated Ownership ◽  
Influence Mechanism ◽  
Privately Owned ◽  
Positive Effect

By using listed companies of Shanghai Stock Exchange in the coal-mining industry as samples, this paper empirically tests the influence of ownership structure on firms’ R&D investments. Firstly, the influence mechanism of ownership structure on R&D investments is analyzed based on the principal-agent theory, and hypotheses are developed accordingly. Then, the empirical analyses are conducted based on data from China Stock Market & Accounting Research Database. The empirical results show that the degree of ownership concentration has a negative impact on firms’ R&D investments, and the improvement of equity counterbalance has a positive effect on firms’ R&D investments. The state-owned enterprises' firms’ R&D investments is higher than that of privately-owned enterprises. The highly concentrated ownership mode of state-owned shares may hinder their investment in firms’ R&D investments to some extent.

scholarly journals The Relationship between the Ownership Structure, Capital Structure and Performance

2018 ◽  
Vol 1 (25) ◽  
pp. 1 ◽  
Author(s):  
Ali Al-Thuneibat
Keyword(s):  
Capital Structure ◽  
Ownership Structure ◽  
Negative Impact ◽  
Positive Impact ◽  
Stock Exchange ◽  
Return On Assets ◽  
Service Companies ◽  
Concentrated Ownership ◽  
And Performance ◽  
The Relationship

This paper aims at providing an empirical evidence concerning the relationship between the ownership structure, capital structure and financial performance of the shareholding companies listed in Amman Stock Exchange (ASE). To measure the ownership structure, the researcher used four variables including foreign, institutional, managerial and concentrated ownership. The capital structure is measured by using the leverage, and the performance is measured by using the return on assets (ROA). To achieve the objectives of the study, a sample of 86 firms from the industrial and service companies listed in ASE during the period 2010 and 2014 is used. The results of the study showed that the relationship between ownership structure in general, and performance is positive and statistically significant, however, the results showed that the various types of ownership structure have different types of relationships with performance. More specifically, there is a negative impact of institutional and foreign ownerships on the performance and positive impact of concentrated and managerial ownerships. The results also revealed that there is a positive impact of the financial leverage on the relationship between ownership structure and firm performance. The findings of the study provide implications to the regulators, investors and managers in Jordan to take into consideration the environment-specific factors when developing corporate regulations and encourage concentrated and managerial ownership because they have positive impact on performance.

scholarly journals PENGARUH LEVERAGE, MANAJEMEN LABA, DAN STRUKTUR KEPEMILIKAN TERHADAP NILAI PERUSAHAAN PADA PERUSAHAAN BUMN YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2008 - 2012

2016 ◽  
Vol 1 (2) ◽  
Author(s):  
Fajar Kusworo
Keyword(s):  
Earnings Management ◽  
Ownership Structure ◽  
Firm Value ◽  
Stock Exchange ◽  
Linear Regression Analysis ◽  
Significant Positive Effect ◽  
Public Ownership ◽  
Government Ownership ◽  
Simultaneous Testing ◽  
Positive Effect

The purpose of this research was to determine the effect of leverage , earnings management , and ownership structure on firm value in state-owned companies . Based on a population of 18 state-owned companies listed on the Stock Exchange was taken 10 stateowned companies in 2008 to 2012 as the samples in this study according to the criteria of the study , a total of 50 years as a firm observational data . At the stage of data processing are affected data outliers firm by 2 years so the number of samples used in this study for 5 years amounted to 48 firm year . Data analysis was performed using linear regression analysis using SPSS for Windows 16.00. Simultaneous testing results show that leverage , earnings management , government ownership , and public ownership and a significant positive effect on firm value . Result partial test indicates that earnings management does not affect the value of the company , while leverage , government ownership , and public ownership negatively affect the value of the company .

The impact of Iran Central Bank’s sanction on Tehran Stock Exchange

2017 ◽  
Vol 59 (3) ◽  
pp. 365-375 ◽  
Author(s):  
Mahdi Salehi ◽  
Mostafa Karimzadeh ◽  
Navid Paydarmanesh
Keyword(s):  
Central Bank ◽  
Stock Price ◽  
Negative Impact ◽  
Stock Exchange ◽  
Oil Prices ◽  
Content Type ◽  
Distributed Lag ◽  
Long Run ◽  
The Impact ◽  
Positive Effect

Purpose US sanctions have been a major feature of US Iran policy since Iran’s 1979 Islamic revolution, but the imposition of UN and worldwide bilateral sanctions on Iran that began in 2006 and increased dramatically as of 2010 is recent by comparison. The objectives of US sanctions have evolved over time. Broad international sanctions imposed on Iran harmed Iran’s economy and contributed to Iran’s acceptance of agreements that exchange constraints on its nuclear program for sanctions relief. The subject of this study is important because both Iran and the international communities are demanding for information about the effect of sanctions on Iran. In an international and regional perspective, it seems that sanctions have a negative impact on economic, social and even political status of Iran. Therefore, this paper aims to examine the impact of Iran Central Bank sanction on Tehran Stock Exchange as on December 31, 2011. Design/methodology/approach Variables of model are consisted by exchange rate, oil prices and Tehran Stock Exchange Price Index (TEPIX) from October 2, 2011 to March 29, 2012, which is offered daily. To analyze the model, the authors used Johansen–Juselius and Autoregressive Distributed Lag (ARDL) methods. Findings The results indicate that there is a long-run equilibrium relationship between selected variables as oil prices, and exchange rates have a positive effect on the TEPIX. In other words, the results of the econometric estimation show the positive effect of the Iran Central Bank sanction on the TEPIX. Thus, because of economic sanctions imposed by the Western countries, Tehran Stock Exchange has been growing. Originality/value No empirical research exists that examines the impact of sanctions on stock price in developing countries. This study fills this gap by examining the links between sanctions and stock price in Iran.

scholarly journals The Influence Of Profitability And Structure Of Ownership On Company Value With Dividend Policy As An Intervening Variable

2020 ◽  
Vol 7 (1) ◽  
pp. 1
Author(s):  
Ulfah Setia Iswara ◽  
Teguh Gunawan Setyabudi
Keyword(s):  
Ownership Structure ◽  
Firm Value ◽  
Stock Price ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Research Data ◽  
Company Value ◽  
Report Data ◽  
A Company ◽  
Positive Effect

The established entity has the aim to increase the value of the company. the company's stock price can be a reference for valuing a company. This study aims to test and prove empirically the effect of profitability and ownership structure on firm value with dividend policy as an intervening variable. The research data is in the form of annual company report data listed on the Indonesia Stock Exchange from 2011 to 2016. Data analysis was performed using path analysis. The results showed that profitability and dividend policy had a significant positive effect on dividend policy, while the ownership structure had no effect on dividend policy. Profitability and dividend policy variables proved to have a significant effect on firm value, while ownership structure did not affect company value.

scholarly journals Pengaruh tanggung jawab sosial terhadap kinerja keuangan: Struktur kepemilikan sebagai variabel moderasi

2021 ◽  
Vol 17 (1) ◽  
pp. 54-68
Author(s):  
Anita Anita ◽  
Desrika Putri Amalia
Keyword(s):  
Social Responsibility ◽  
Financial Performance ◽  
Ownership Structure ◽  
Stock Exchange ◽  
Total Sample ◽  
Ownership Concentration ◽  
Moderating Variables ◽  
Corporate Social ◽  
Positive Effect

This research was conducted to prove empirically the influence of social responsibility on financial performance moderated by the ownership structure of companies listed on the Indonesia Stock Exchange. The variables contained in this study were ownership concentration, the proportion of tradeable shares, leverage, long-term debt, and company size. The proportion of tradeable shares and ownership concentration were moderating variables. Companies listed on the Indonesia Stock Exchange with a total sample of 384 companies were selected based on predetermined criteria. Eviews were programs used to test panel data taken from annual company reports published for 5 years. The results of the study after the data test stated that social responsibility has a significant positive effect while the proportion of tradeable shares and ownership concentration do not have a significant effect on performance. The moderating variables contained in this study positively influence corporate social responsibility toward financial performance.

scholarly journals DETERMINAN CORPORATE SOCIAL RESPONSIBILITY DISCLOSURE (CSRD) PADA PERUSAHAAN PERTAMBANGAN PERIODE 2014-2018

2021 ◽  
Vol 10 (1) ◽  
pp. 116-131
Author(s):  
Maria Suryaningsih ◽  
Mulia Ningsih
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Ownership Structure ◽  
Stock Exchange ◽  
Institutional Ownership ◽  
Significant Positive Effect ◽  
Ownership Structures ◽  
Mining Companies ◽  
Corporate Social ◽  
Positive Effect

This research has a problem where the company implements corporate social responsibility with the existence of a law, not from awareness. Companies are also not yet aware of the benefits of implementing corporate social responsibility and there are still different previous researchers.This study aims to examine the effect of profitability, leverage, and ownership structure on corporate social responsibility. This study uses data from 15 mining companies listed on the Stock Exchange Index (IDX) during the period 2014 to 2018 using SPSS 24 software. The results showed that profitability had no effect on corporate social responsibility . Leverage has no effect on corporate social responsibility . Ownership Structure has a significant positive effect on corporate social responsibility . That is, high institutional ownership can increase the existence of corporate social responsibility actions and Simultaneously Profitability, Leverage and ownership structures simultaneously have a significant positive effect on corporate social responsibility .

scholarly journals Analisis Faktor yang Mempengaruhi Kredibilitas Kinerja Perusahaan

2019 ◽  
Vol 28 (3) ◽  
pp. 1801
Author(s):  
Zaini Danu Brata ◽  
Maria M. Ratna Sari
Keyword(s):  
Corporate Governance ◽  
Ownership Structure ◽  
Stock Exchange ◽  
Sample Selection ◽  
Company Size ◽  
Company Performance ◽  
Good Corporate Governance ◽  
Research Population ◽  
A Company ◽  
Positive Effect

The purpose of this study is to determine the effect of the application of Good Corporate Governance, Ownership Structure, and Company Size on Company Performance. Several factors This study aims to determine the effect of Good Corporate Governance (CGPI) on the Performance of Companies listed on the IDX for the period 2013-2017. The research population is a company that is listed on the Indonesian stock exchange and at the same time follows the ranking of the Corporate Governance Perception Index with sample selection through a purposive sampling method. There are 55 companies that meet the criteria as research samples. The results show that Good Corporate Governance has a significant positive effect on company performance, Managerial Ownership has a positive and significant effect on company performance, Institutional Ownership does not have a positive and significant effect on Company Performance, Company Size positive and significant effect on Financial Performance. Keywords : Good corporate governance, ownership structure, company size, company performance.

CEO COMPENSATION AND FIRM INNOVATION: MODERATING ROLE OF OWNERSHIP CONCENTRATION

2019 ◽  
Vol 24 (06) ◽  
pp. 2050058
Author(s):  
MUHAMMAD ZULFIQAR ◽  
KHALID HUSSAIN
Keyword(s):  
Ownership Structure ◽  
Ceo Compensation ◽  
Stock Exchange ◽  
Panel Data Analysis ◽  
Chinese Economy ◽  
Strategic Decision ◽  
Ownership Concentration ◽  
Firm Innovation ◽  
Concentrated Ownership ◽  
Innovative Culture

A performance-based CEO compensation plan can help organisations incorporate an innovative culture. Concentrated ownership structure can enable shareholders to play a key role in the strategic decision-making of a company by exercising their statutory rights. Purpose of this paper is to understand the moderating impact of ownership concentration on the nexus of CEO compensation and firm innovation relationship. Data about all A-share non-financial companies listed at the Shanghai Stock Exchange and Shenzhen Stock Exchange is obtained from CSMAR database of China. Panel data analysis by using year and industry effects indicates that CEO compensation positively and significantly affects organisational innovation. Furthermore, ownership concentration as measured by top 5 shareholders strengthens this relationship. Findings of this study can help investors, policymakers and creditors to understand the importance of CEO compensation towards innovation in the presence of a concentrated ownership structure. Chinese economy is the fastest growing developing economy and therefore, Chinese contextual findings may be selected as a benchmark for other developing countries.

scholarly journals PENGARUH OWNERSHIP STRUCTURE DAN CORPORATE PERFORMANCE TERHADAP FIRM VALUE

2017 ◽  
Vol 20 (3) ◽  
pp. 388
Author(s):  
Makhdalena Makhdalena
Keyword(s):  
Data Analysis ◽  
Ownership Structure ◽  
Firm Value ◽  
Corporate Performance ◽  
Stock Exchange ◽  
Secondary Data ◽  
Foreign Ownership ◽  
Public Ownership ◽  
Government Ownership ◽  
Positive Effect

Research on the ownership structure (foreign ownership, government ownership and public ownership), corporate performance and firm value has been carried out by researchers, but the results have not been consistent. Thus researchers interested in studying the structure of the ownership (foreign ownership, government ownership and public ownership), corporate performance and firm value. The purpose of this study was to examine and analyze the effect of ownership structure (foreign ownership, government ownership and public ownership) and corporate performance to firm value. The population of this research is the company listed in the Indonesia Stock Exchange that have complete data on foreign ownership, government ownership,  public ownership, corporate performance and firm value for six consecutive years (2008-2013). Data type of variable of this research is secondary data obtained with techniques derived from ICMD documentation. Data analysis in this research is using regression. The results showed that foreign ownership, government ownership and public ownership had no effect on firm value  and corporate performance positive effect on firm value.

scholarly journals Does ownership structure affect firm performance? Evidence from Nigerian listed companies

2011 ◽  
Vol 9 (1) ◽  
pp. 503-513
Author(s):  
Ioraver N. Tsegba ◽  
Joseph K. Achua
Keyword(s):  
Firm Performance ◽  
Ownership Structure ◽  
Stock Exchange ◽  
Foreign Ownership ◽  
Ordinary Least Squares ◽  
Policy Implications ◽  
Insider Ownership ◽  
Ownership Structures ◽  
Concentrated Ownership ◽  
The Relationship

This paper examines the relationship between ownership structure and firm performance from the perspective of listed Nigerian companies. The sample comprises 73 companies listed on the Nigerian Stock Exchange for which relevant financial data is available for the period 2001 to 2007. The empirical results obtained through ordinary least squares (OLS) analysis provide evidence which suggests that dominant shareholding, ownership concentration, and foreign ownership structures have no significant effect on firm performance. However, insider ownership is inversely related to firm performance. Two major policy implications emerge from the results of this study. First, since ownership structures such as, dominant shareholding, concentrated ownership, and foreign ownership have no significant effect on firm performance, government emphasis on them is misplaced. Second, insider ownership of Nigerian firms is to be monitored closely by shareholders due to the adverse effect of this ownership structure on firm performance.

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