 Institutional ownership and firm performance: evidence from Indian panel dataRuchi Kansil and Archana Singh International Journal of Business and Emerging Markets, 2018, vol. 10, issue 3, 250-269 Abstract: The objective of this paper is to investigate the interdependent and interaction of institutional ownership and firm performance in an emerging market using Indian panel data. Two stage simultaneous equations - pooled and panel instrumental regression analysis is applied to the dataset that includes publicly listed Indian non-financial firms listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) as on 31 March 2014. A strong evidence of interrelation between institutional ownership and firm performance is evidenced in the Indian context. The results of fixed effect model confirm the relationship between firm performance and institutional ownership. Leverage and asset structure are joint determinants of firm performance and institutional ownership. However, firm performance impacts institutional ownership in the Indian context and not vice versa. The findings of the study could serve as guidelines for policy makers, institutional investors and the Indian corporate. Keywords: emerging market; institutional ownership; corporate governance; corporate ownership; firm performance; India. (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:ids:ijbema:v:10:y:2018:i:3:p:250-269 Access Statistics for this article More articles in International Journal of Business and Emerging Markets from Inderscience Enterprises Ltd |
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