Ownership structure and firm financial performance: Evidence from panel data in Sri Lanka

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dc.contributor.authorWellalage, Nirosha Hewa
dc.contributor.authorLocke, Stuart
dc.date.accessioned2013-08-01T00:08:12Z
dc.date.available2013-08-01T00:08:12Z
dc.date.issued2012
dc.description.abstractThis study investigates the effects of equity ownership structure on financial performance of Sri Lankan listed businesses. Using dynamic panel generalised method of moment this study finds an inverse hump shape relationship between insider ownership and firm financial performance. The results of this study confirm that the effect of insider ownership on firm performance is more positive and significant where legal protection for investors is weak. It suggests that although new legislative reforms have been enacted, Sri Lankan companies are highly dependent on internal governance mechanisms. There is potential merit in promulgating new rules to control the expropriation of minority shareholders.en_NZ
dc.identifier.citationWellalage, N. H. & Locke, S. (2012). Ownership structure and firm financial performance: Evidence from panel data in Sri Lanka. Journal of Business Systems, Governance & Ethics, 7(1), 52-65.en_NZ
dc.identifier.doi10.15209/jbsge.v7i1.214en_NZ
dc.identifier.urihttps://hdl.handle.net/10289/7810
dc.language.isoenen_NZ
dc.publisherVictoria Universityen_NZ
dc.relation.isPartOfJournal of Business Systems, Governance and Ethicsen_NZ
dc.relation.urihttp://www.jbsge.vu.edu.au/issues/vol07no1/Wellalage_&_Locke.pdfen_NZ
dc.subjectownership structureen_NZ
dc.subjectfinancial performanceen_NZ
dc.subjectendogeneityen_NZ
dc.subjectemerging marketen_NZ
dc.subjectSri Lankaen_NZ
dc.titleOwnership structure and firm financial performance: Evidence from panel data in Sri Lankaen_NZ
dc.typeJournal Articleen_NZ
pubs.begin-page52en_NZ
pubs.elements-id38142
pubs.end-page65en_NZ
pubs.issue1en_NZ
pubs.volume7en_NZ
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