Ownership Concentration and Firm Performance on the Romanian RASDAQ Market

ISBN-13: 9783836490153 / Angielski / Miękka / 2008 / 52 str.

Istvn Szp

Opis

There is a large body of literature that documents the relationship between the degree of ownership concentration and the firms per­formance. The results are spread among many opinions.The purpose of this thesis was to determine whether there is any relationship between ownership concentration and firm performance in Romanian firms. I use a complex database, describing 356 firms listed on the Bucharest Stock Exchange RASDAQ market and I de­termine that there is a positive relationship between the largest blockholder and firm performance and even more this relationship is concave. Furthermore, the second largest blockholder has a negative impact on the firms performance and it is U-shaped.This study is among the first one to treat this issue for the Romanian market by using econometric evidence to support its conclusions.