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| Author: | Hamadi, M. |
| Title: | Ownership concentration, family control and performance of firms |
| Journal: | European management review
2010 : VOL. 7:2, p. 116-131 |
| Index terms: | family firms voting Belgium |
| Freeterms: | ownership concentration Tobin's Q |
| Language: | eng |
| Abstract: | The study explores the relationship between firm performance measured by Tobin's Q and very powerful controlling shareholders in a sample of Belgian listed firms. The findings show that the largest shareholders have a negative effect on firm performance. In family firms, though, the effect of large controlling shareholders on performance is positive except when they are organized in voting blocks. Firms related to coordination centers display higher performance associated with large shareholders. It is also shown that the presence of a second shareholder in the firm has no significant effect. |
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