Rami Zeitun and Gary Gang Tian
This paper seeks to examine the impact of ownership structure on firm performance and the default risk of a sample of publicly listed firms.
Abstract
Purpose
This paper seeks to examine the impact of ownership structure on firm performance and the default risk of a sample of publicly listed firms.
Design/methodology/approach
This paper examines the impact of ownership structure on firm performance and the default risk of a sample of 59 publicly listed firms in Jordan from 1989 to 2002.
Findings
The main findings were: ownership structure has significant effects on the accounting measure of performance return on assets (ROE); government shares are significantly negatively related to the firm's performance ROE; defaulted firms have a high concentration ownership compared with non‐defaulted firms and also high foreign ownership firms have a low incidence of default; government ownership is significantly negatively related to the firm's probability of default; both mix and concentration ownership structure data can be used to predict the probability of default as the largest five shareholders (C5) and government ownership fraction (FGO) are significantly negatively correlated with the probability of the default. These results further suggest that reducing government ownership can increase a firm's performance but will also cause some firms to go bankrupt, at least in the short term.
Originality/value
This paper provides useful information on the impact of ownership structure on firm performance and the default risk of a sample of publicly‐listed firms.
Details
Keywords
Presents a special issue, enlisting the help of the author’s students and colleagues, focusing on age, sex, colour and disability discrimination in America. Breaks the evidence…
Abstract
Presents a special issue, enlisting the help of the author’s students and colleagues, focusing on age, sex, colour and disability discrimination in America. Breaks the evidence down into manageable chunks, covering: age discrimination in the workplace; discrimination against African‐Americans; sex discrimination in the workplace; same sex sexual harassment; how to investigate and prove disability discrimination; sexual harassment in the military; when the main US job‐discrimination law applies to small companies; how to investigate and prove racial discrimination; developments concerning race discrimination in the workplace; developments concerning the Equal Pay Act; developments concerning discrimination against workers with HIV or AIDS; developments concerning discrimination based on refusal of family care leave; developments concerning discrimination against gay or lesbian employees; developments concerning discrimination based on colour; how to investigate and prove discrimination concerning based on colour; developments concerning the Equal Pay Act; using statistics in employment discrimination cases; race discrimination in the workplace; developments concerning gender discrimination in the workplace; discrimination in Japanese organizations in America; discrimination in the entertainment industry; discrimination in the utility industry; understanding and effectively managing national origin discrimination; how to investigate and prove hiring discrimination based on colour; and, finally, how to investigate sexual harassment in the workplace.
Details
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Richard E. Bopp and Judyth Lessee
[1981 was proclaimed by the United Nations as the International Year of Disabled Persons. With the theme “Full Participation and Equality,” the IYDP sought both to promote total…
Abstract
[1981 was proclaimed by the United Nations as the International Year of Disabled Persons. With the theme “Full Participation and Equality,” the IYDP sought both to promote total participation of disabled persons in all aspects of life and to encourage society to help them function as integrated members of their communities. One purpose of proclaiming such a year, and one means of achieving its goals, is to inform and sensitize the public. The following bibliographies are presented with those purposes in mind.