Propriété étrangère, investissement et performance des entreprises en Afrique: Cas du Cameroun

Cyrille-Michel-Bertrand Onomo, Marius Ayou Bene and François-Seck Fall ()
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François-Seck Fall: LEREPS - Laboratoire d'Etude et de Recherche sur l'Economie, les Politiques et les Systèmes Sociaux - UT Capitole - Université Toulouse Capitole - UT - Université de Toulouse - UT2J - Université Toulouse - Jean Jaurès - UT - Université de Toulouse - Institut d'Études Politiques [IEP] - Toulouse - ENSFEA - École Nationale Supérieure de Formation de l'Enseignement Agricole de Toulouse-Auzeville

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Abstract: This paper analyzes the relationship between foreign ownership, investment and firms performance in a Sub-Saharan context, based on a sample of 168 Cameroonian firms in the period 2007-2009. To control for the endogeneity issue revealed by our analysis, we estimate a simultaneous equations model that is known to give more robust results than usual models. We find that foreign ownership has a negative effect on firm's assets return, while positively related to investment. However, the results show a non-linear relationship: when foreign equity is above 25%, foreign ownership is positively related to assets return, and negatively related to investment.

Keywords: Foreign ownership; Investment; Financial performance (search for similar items in EconPapers)
Date: 2018
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Published in Management international = International management = Gestión internacional, 2018

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-02309599

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