Corporate governance, ownership structure and firm performance: evidence from an emerging economy

Article

Rashid, Afzalur. 2012. "Corporate governance, ownership structure and firm performance: evidence from an emerging economy." Corporate Ownership and Control. 9 (4), pp. 441-455.
Article Title

Corporate governance, ownership structure and firm performance: evidence from an emerging economy

ERA Journal ID19082
Article CategoryArticle
Authors
AuthorRashid, Afzalur
EditorsKostyuk, Alex
Journal TitleCorporate Ownership and Control
Journal Citation9 (4), pp. 441-455
Number of Pages15
Year2012
Place of PublicationSumy, Ukraine
ISSN1727-9232
1810-3057
Web Address (URL)http://www.virtusinterpress.org/-Corporate-Ownership-and-Control-.html
Abstract

This study aims at examining the relationship between ownership structure influences firm economic performance in Bangladesh. While doing so, it examines if the ownership by directors (insiders) as well as ownership by institutions (outsider) influence firm performance. It is found that insider ownership by directors has a significant positive influence on firm performance; however, institutional ownership has no influence or significant negative influence on firm performance. The non-linear relationship between ownership structure (both by directors and institutions) and firm performance reveal that ownership entrenchment is available within certain level of ownership.

Keywordsagency theory; Bangladesh; corporate governance; emerging economy; ownership; company performance
ANZSRC Field of Research 2020440499. Development studies not elsewhere classified
380109. Industry economics and industrial organisation
350799. Strategy, management and organisational behaviour not elsewhere classified
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Byline AffiliationsSchool of Accounting, Economics and Finance
Institution of OriginUniversity of Southern Queensland
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