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Ownership Structure and Firm Performance. A Panel Regression Study from Poland

Andrzej Gryko et al.

Central European Journal of Economic Modelling and Econometrics2024https://doi.org/10.24425/cejeme.2024.151364article
ABDC C
Weight
0.42

What the paper says

This paper explores the relationship between ownership structure and firm performance, using the framework of agency theory. Given a sample of 126 Polish non-financial firms listed on the Warsaw Stock Exchange between 2016-2021, we applied fixed and random effects panel regressions with robust standard errors, tested for specification, endogeneity, cross-sectional heteroskedasticity, and serial autocorrelation. Our models identify several significant associations of adopted ownership structures with firm performance measured by accounting and market-based measures. We find that ownership concentration by the largest shareholder is negatively related to enterprise market-measured performance. Additionally, our results indicate the significance of shareholder heterogeneity.

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https://doi.org/https://doi.org/10.24425/cejeme.2024.151364

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@article{andrzej2024,
  title        = {{Ownership Structure and Firm Performance. A Panel Regression Study from Poland}},
  author       = {Andrzej Gryko et al.},
  journal      = {Central European Journal of Economic Modelling and Econometrics},
  year         = {2024},
  doi          = {https://doi.org/https://doi.org/10.24425/cejeme.2024.151364},
}

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Evidence weight

0.42

Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40

F · citation impact0.29 × 0.4 = 0.12
M · momentum0.53 × 0.15 = 0.08
V · venue signal0.50 × 0.05 = 0.03
R · text relevance †0.50 × 0.4 = 0.20

† Text relevance is estimated at 0.50 on the detail page — for your query’s actual relevance score, open this paper from a search result.