Foreign ownership in Latin American microfinance institutions: evidence and impact

Martins, Fernanda; Winkler, Adalbert

doi:10.1007/s11573-013-0668-2

Cited by 3 publications

(2 citation statements)

References 33 publications

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“…On contrast, when the relationship between shareholders and managers can be controlled, then the firm's performance can be better. According to (Martins and Winkler, 2013), the higher the foreign ownership level then the foreigners as majority shareholders will appoint a foreigner to hold the position as Board of Commissioner or Director. Therefore, the objective to maximize firm's performance can be achieved, because there is a similarity in principles between shareholders and management, which is also filled by them as part of the firm.…”

Section: Theoretical Reviewmentioning

confidence: 99%

“…A study conducted by Lee and Chuang cited by (Khan et al, 2013), identified that there is significant effect of ownership structure on firm's performance. As proven by (Martins and Winkler, 2013) the involvement of foreign investors as the predictor of firms' performance. Such mechanism involves managers in motivating and monitoring their performance to increase value of the firm.…”

Section: Introductionmentioning

confidence: 99%

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Parabolic Effect Between Managerial Ownership And Firm Value To Control Agency Conflict

Ekadjaja

Siswanto²,

Nuringsih³

et al. 2019

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This research attempts to place the ownership structure, which includes managerial ownership, institutional ownership, foreign ownership, and concentration ownership as determinants to predict value of the firm. Managerial ownership will be identified and analyzed on its possibility to form the inverse U-shape relationship pattern, therefore the test on parabolic effect between managerial ownership using Tobin’s Q can be conducted. Meanwhile, such test cannot be conducted to the other three independent variables. This test was applied to non-financial firms whose shares were listed on Indonesia Stock Exchange (IDX) during 2000-2017. The result of panel data regression test concludes that managerial ownership can predict value of the firm, while it is not for institutional ownership and foreign ownership.

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Section: Theoretical Reviewmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%