The Relationship between Ownership and Performance: A Review of Theory and Evidence

Yabei Hu, Shigemi Izumida


This paper surveys the theoretical basis for, and empirical evidence on the relationship between ownership structure and corporate performance from two perspectives: ownership concentration and managerial ownership. We pay special attention to see reasons for discrepancies among previous empirical research, such as corporate governance environments, data issues, variable measurements, and estimation methods. General directions for future work are discussed as well.

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International Business Research  ISSN 1913-9004 (Print), ISSN 1913-9012 (Online)

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