Ownership structure’s effect on financial performance: An empirical analysis of Jordanian listed firms : WestminsterResearch

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Title	Ownership structure’s effect on financial performance: An empirical analysis of Jordanian listed firms
Type	Journal article
Authors	Alkurdi, A., Hamad, A., Thneibat, H. and Elmarzouky, M.
Abstract	This study aims to examine the impact of the ownership structure on firm performance in Jordan. This study employed the multiple-regression model and fixed regression effect to analyse the data. The sample included all Jordanian first market firms listed on the Amman Stock Exchange (ASE) from 2012 to 2018. The paper’s findings reveal a positive and significant relationship between institutional ownership and both accounting measure Return on Assets (ROA) and market measure Tobin’s Q (TQ). Other ownership structure types, such as concentration of ownership, also affect ROA and TQ. While managerial ownership shows a negative relationship with ROA, but there is no association with TQ. This study has broad and comprehensive practical implications that are good for policymakers. On the one hand, it adds to the debate on agency theory from the ownership structure and firm’s performance relationship. On the other hand, it helps the Jordanian Government formulate policies and regulations to strengthen corporate governance (CG), which increases the interests of all stakeholders in the Jordanian market.
Keywords	Ownership Structure
	Financial performance
	Emerging Markets
	Return on Assets
	Tobin’s Q
Article number	1939930
Journal	Cogent Business & Management
Journal citation	8 (1)
ISSN	2331-1975
Year	2021
Publisher	Taylor & Francis
Publisher's version	Ownership structure s effect on financial performance An empirical analysis of Jordanian listed firms.pdf License CC BY 4.0 File Access Level Open (open metadata and files)
Digital Object Identifier (DOI)	https://doi.org/10.1080/23311975.2021.1939930
Web address (URL)	https://www.tandfonline.com/doi/full/10.1080/23311975.2021.1939930
Published online	19 Jul 2021

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Ownership structure’s effect on financial performance: An empirical analysis of Jordanian listed firms

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