OWNERSHIP STRUCTURES, INVESTORS CONFIDENCE AND FINANCIAL DECISIONS IN FAMILY FIRMS: EVIDENCE FROM GCC MARKETS

Muhammad Sadiq Shahid (), Razaz Houssien Felimban (), Khawar Naheed (), Usman Aleem () and Shaiza Nawaz ()
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Muhammad Sadiq Shahid: Assistant Professor, Institute of Management Sciences, BZU Multan
Razaz Houssien Felimban: PhD Scholar at Middlesex University, UK
Khawar Naheed: Assistant Professor; Bahauddin Zakariya University, Multan, Pakistan
Usman Aleem: PAK-KITE, Karachi, Pakistan
Shaiza Nawaz: MPhil Scholar at School of Economics, Bahauddin Zakariya University Multan

IBT Journal of Business Studies (JBS), 2018, vol. 14, issue 1, 52-68

Abstract: The objective of this study is to examine the impact of financial decisions on the ownershipstructure.This study adopted two themes of ownership structure e.g., 25% & 50% thatcategorized the familyowned firms FOF and nonfamily firms NFOF.The data wascollected from 286 firms listed at GCC stock exchanges annual reports, stock exchangedatabase, and DataStream that range from 20102016 periods.The findings of this study showed that the FOFs have lesser investmentinternal fund sensitivity than NFOFs.Though, there is an insignificant effect of the block holder on investment funds sensitivity.However, the little implication of dividend payout in FOFs as compare to NFOFs was disclosed in the results.Moreover, it wrapped up that there are less agency problems and informationasymmetry in FOFs comparatively

Keywords: Ownership structure; Investment sensitivity; Family-firms; financial decision; Gulf Cooperation Council (GCC) (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:aib:ibtjbs:v:14:y:2018:i:1:p:52-68

DOI: 10.46745/ilma.ibtjbs.2018.141.5

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