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Leverage, Ownership Structure and Firm Performance: Evidence from Karachi Stock Exchange

Journal of Management Info

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Field Value
 
Title Leverage, Ownership Structure and Firm Performance: Evidence from Karachi Stock Exchange
 
Creator Ali, Adnan; PhD Student IM Sciences
Shah, Attaullah; IM Sciences
Jan, Farzand Ali; Comsats University of Technology
 
Subject Tobin’s Q; Ownership; Return on Assets; Firm Performance; Leverage; Karachi Stock Exchange;
 
Description This study aims to investigate the relationship between the ownership structure and firm performance. The study uses two performance measures i.e. market-based performance measure (Tobin’s Q) and accounting-based performance measure (return on assets (ROA)) as dependent variables and ownership proxies and other control variables as independent variables whereas leverage is used as moderating variable. The ownership proxies include the managerial ownership and institutional ownership while the control variables include the size of the firm, the coefficient of variation, and growth. This study has used simple regression analysis while using data of 355 firms listed on Karachi Stock Exchange (KSE) for the years 2003 to 2008. The results show that the ownership structure has significant relationship with the market-based performance measure, while it has insignificant relationship with the accounting-based performance measure. Moreover, the leverage has no moderating effect on the relationship between ownership structure and firm performance
 
Publisher Readers insight Publisher
 
Contributor —
 
Date 2015-06-01
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
—
 
Format image/pdf
 
Identifier http://jmi.readersinsight.net/index.php/jmi/article/view/41
 
Source Journal Of Management Info; Vol 6, No 1 (2015): Volume 6, Issue 1; 1-19
2313-3376
 
Language eng
 
Relation http://jmi.readersinsight.net/index.php/jmi/article/view/41/pdf_29
 
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http://creativecommons.org/licenses/by/4.0