BRIC without B: Does ownership structure matters for firm performance in emerging economies?

Muhammad Yusuf Amin () and Zahoor Ul Haq ()
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Muhammad Yusuf Amin: Abdul Wali Khan University
Zahoor Ul Haq: Abdul Wali Khan University

Quality & Quantity: International Journal of Methodology, 2022, vol. 56, issue 1, No 11, 217-226

Abstract: Abstract This article tests the relationship between ownership and firm performance in emerging countries; Russia, India, and China. Annual financial and accounting data of 213 state-owned and 3,624 non-state-owned enterprises- for the period 2011–2015 are compiled from Orbis. The empirical results show that on average, the firm performance is negatively associated with state-owned enterprises in Russia, India and China. This is also confirmed with country-specific analysis except for Russia. These results suggest that among emerging countries, India and China’s state-owned enterprises are less profitable in comparison to non-state-owned enterprises. Lower profitability of state-owned enterprises is justified by the argument that the main goals of enterprises under state control are not in line.

Keywords: Emerging economies; Ownership structure; Firm performance; BRIC (search for similar items in EconPapers)
JEL-codes: G32 L21 (search for similar items in EconPapers)
Date: 2022
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DOI: 10.1007/s11135-021-01124-8

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