Ownership Concentration and Performance of Privately-Held Firms with Multiple Owners and the Moderating Effect of Managerial and Corporate Ownership: Evidence from Post-Socialist European Countries

Aleš Kubíček () and Ondřej Machek ()
Additional contact information
Aleš Kubíček: University of Economics
Ondřej Machek: University of Economics

Chapter Chapter 2 in Corporate Governance in Central Europe and Russia, 2020, pp 11-31 from Springer

Abstract: Abstract This chapter examines the relationship between ownership concentration and performance of privately-held firms with multiple owners in a stratified random sample of 4500 Czech, Slovak and Polish firms. Based on hierarchical regression analysis on data from 2009–2013, the results indicate the existence of an inverted U-shaped relationship between ownership concentration and performance. Corporate ownership and managerial ownership have both significant moderating effects on this relationship. If a large part of shares is held by corporate owners, firms will perform better when ownership concentration is high, and if owners strongly participate in management, firms will perform better when ownership concentration is low.

Date: 2020
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:csrchp:978-3-030-39504-9_2

Ordering information: This item can be ordered from
http://www.springer.com/9783030395049

DOI: 10.1007/978-3-030-39504-9_2

Access Statistics for this chapter

More chapters in CSR, Sustainability, Ethics & Governance from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().