The Relationship between Ownership Structure and Firm Performance: An Empirical Analysis over Istanbul Stock Exchange (ISE) Listed Companies

  •  Suleyman Karaca    
  •  Ibrahim Eksi    


This study investigates the relationship between ownership structure and corporate performance of 50 companies, listed in manufacturing industry on the Istanbul Stock Exchange during the 2005-2008 period. The study uses the share of the largest shareholder as ownership structure variables, tobin’s q and profit before tax divided by total asset as performance variables, and leverage and firm size (total asset) as control variables. For variables, first panel unit root and Hausman tests were made and then panel data analysis were applied. Accoarding to the result of analysis, while TLS were observed to have possitive effect on PBT, no effects were observed on TOB.

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