Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
5085436 | International Review of Financial Analysis | 2007 | 18 Pages |
Abstract
This paper analyzes the influence of ownership structure on firm value. We find a non-significant relationship between the ownership of large blockholders and firm value. We also find a positive effect of the degree of control with regard to firm value. Endogenous treatment of these variables then reveals a positive effect for the ownership by major shareholders on firm value, although the opposite relationship is not significant; and a positive effect of the degree of control on Tobin's Q and vice versa. A positive effect is seen when the major shareholders are individuals.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Antonio MÃnguez-Vera, Juan Francisco MartÃn-Ugedo,