Ownership concentration and firm performance: Evidence from Turkish firms
Year: 2003
Type: article
Abstract: This paper examines the determinants of ownership concentration and the relationship between ownership structure and firm performance in Turkish firms. The empirical results show that ownership concentration increases with firm size, controlling for total risk and the industry of the firm. The results also suggest that the measure of firm performance is important in analyzing the relationship between firm performance and its ownership structure. A quadratic relationship between the largest shareholder’s concentration and Tobin’s Q is observed in Turkish firms. Furthermore, the findings indicate that the relationships obtained for developed markets cannot be generalized to emerging markets.
Author: Zeynep Önder
Language: English
Subfield: Accounting
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W2409918992