The effect of ownership structure on firm performance: The case of PSE-listed firms from years 2003-2013

Date of Publication

2015

Document Type

Bachelor's Thesis

Degree Name

Bachelor of Science in Management of Financial Institutions

College

Ramon V. Del Rosario College of Business

Department/Unit

Financial Management

Thesis Adviser

Rene Betita

Defense Panel Chair

Kenneth Yumang

Defense Panel Member

Ring Joven

Enrico Amat

Abstract/Summary

This study intends to examine the relationship of family and firm performance in the Philippines from 2003 to 2013. In meeting this objective, ordinary least squares (OLS) regression and generalized least squares (GLS) regression were implemented. A panel data set consisting of annual observations for 20 firms listed in the Philippines Stock Exchange was obtained to form the database of the study. Other than that, empirical validity of theories (agency theory and stewardship theory) was tested. The results showed that the effect of ownership structure is insignificant on firm performance. Meanwhile, other financial indicators, such as firm age and size, price-to-book-ratio, debt-to-asset ratio and total equity, are significant. These findings suggest that financial performance is not determined by ownership structure, yet is measured by a firm's financial indicators.

Abstract Format

html

Language

English

Format

Print

Accession Number

TU21591

Shelf Location

Archives, The Learning Commons, 12F, Henry Sy Sr. Hall

Physical Description

100 leaves : illustrations (some color) ; 29 cm.

Keywords

Family-owned business enterprises--Philippines; Financial institutions--Philippines

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