Large Shareholders and Profitability of Telecommunication Firms in Eastern Europe and the Black Sea Region

Ioannis Antoniadis (), Theodoros Parganas () and Kontstantinos Spinthiropoulos ()
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Ioannis Antoniadis: University of Western Macedonia
Theodoros Parganas: Hellenic Telecommunications Organization
Kontstantinos Spinthiropoulos: University of Western Macedonia

Chapter Chapter 40 in Advances in Cross-Section Data Methods in Applied Economic Research, 2020, pp 615-625 from Springer

Abstract: Abstract This paper examines the relationship between the performance of the firm and ownership structure in the telecommunication companies of Eastern Europe and the Black Sea region. More specifically we focus on the ownership percentage the large shareholder of the company owns and its effect on profitability measures of performance (ROA and ROE) of the firms. A balanced panel is used for 14 telecommunication companies from 11 countries of the region is used for the period 2012–2015. Our results indicate the existence of a non-linear relationship between large shareholder ownership and performance, suggesting the existence of agency problems.

Keywords: Corporate governance; Ownership; Performance; Large shareholders; Agency problem; Telecommunications (search for similar items in EconPapers)
JEL-codes: L22 L96 (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-030-38253-7_40

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DOI: 10.1007/978-3-030-38253-7_40

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