Naslov
Firm Ownership and Performance: Evidence for Croatian Listed Firms

Autori
Pervan, Maja ; Pervan, Ivica ; Todorić, Matea

Izvornik
International Journal of Humanities and Social Science (2220-8488) 6 (2012); 89-95

Vrsta, podvrsta i kategorija rada
Radovi u časopisima, članak, znanstveni

Ključne riječi
Croatia; firm; ownership; performance

Sažetak
Using data of listed Croatian firms from the Zagreb Stock Exchange we analyze the relationship between firm ownership (ownership concentration and type) and performance (ROA). Empirical research was conducted for the period 2003-2010, yielding with the total of 1, 430 observations. Empirical findings based on dynamic panel analysis indicate that ownership concentration variable - CR4 is negatively related with performance, i.e. listed firms with dispersed ownership perform better than firms with concentrated ownership. Also, the research indicated that foreign controlled listed firms perform better than domestically controlled firms. Majority state owned firms perform worse than privately held firms but dummy variable for privately controlled firms was not statistically significant in the estimated panel model.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA