The Effect of Ownership Structure on Corporate Financial Performance in the Czech Republic

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Authors

KONEČNÝ Lukáš ČÁSTEK Ondřej

Year of publication 2016
Type Article in Periodical
Magazine / Source Ekonomický časopis
MU Faculty or unit

Faculty of Economics and Administration

Citation
Web http://search.proquest.com/docview/1816855815?accountid=16531
Field Management and administrative
Keywords ownership structure; ownership concentration; corporate financial performance; Czech Republic
Description This paper seeks to examine the effect of ownership concentration on corporate financial performance in the Czech Republic. The study uses linear regression models and analyses data gathered from medium and large businesses in order to test the aforementioned relation. Using data from a sample of over 5,000 Czech businesses between 2010 and 2012, the study finds that ownership concentration expressed as the Herfindahl index has a weak, but statistically significant negative effect on corporate performance represented by return on assets. However, the data do not conclusively reveal whether the effect is monotonic or inverted U-shaped.
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