Omistajuus ja yritysten menestyminen: analyysia suomalaisella aineistolla
Mika Pajarinen () and
No 1007, Discussion Papers from The Research Institute of the Finnish Economy
This study analyzes ownership and firm performance. Ownership categories include family ownership, listed companies with decentralized ownership, state-owned companies, and foreign-owned companies. We utilize both univariate and multivariate methods in the analysis. In the multivariate analysis various firm characteristics, such as industry, size, age, and innovativeness are controlled for. Using data on top 500 Finnish firms over 19862004 we find that the rate of return on capital, as well as debt-equity ratio in family firms are equal to those in foreign-owned, listed non-family, and state-owned companies. In addition, foreign-owned firms seem to have higher rate of return on capital than state-owned and listed non-family companies. On the other hand, they have grown slower than the other three firm groups, on average. We also find some evidence that small firms have performed on average better than large ones.
Keywords: Omistajuus; omistusrakenne; yritykset; yritysten menestyminen (search for similar items in EconPapers)
JEL-codes: G32 G34 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-fin
References: Add references at CitEc
Citations View citations in EconPapers (1) Track citations by RSS feed
Downloads: (external link)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:rif:dpaper:1007
Ordering information: This working paper can be ordered from
The price is 10€.
Access Statistics for this paper
More papers in Discussion Papers from The Research Institute of the Finnish Economy Contact information at EDIRC.
Series data maintained by Kaija Hyvönen-Rajecki ().