The Relationship between Ownership Structure and Firm Performance: An Empirical Analysis over ?stanbul Stock Exchange (ISE) Listed Companies

Karaca, Süleyman Serdar; Ekşi̇, İbrahim Halil

doi:10.5539/ibr.v5n1p172

Cited by 31 publications

(22 citation statements)

References 23 publications

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“…Two measurements-Tobin's Q and return on assets (ROA)-were used in this study. These indicators have also been used in previous studies (Haniffa and Hudaib, 2006;McConnell and Servaes, 1995;Wiwattanakantang, 2001;Pervan et al, 2012;Karaca and Halil, 2012). Two measures were used for firm performance because there is no consensus or grounded theory in the literature for measuring firm performances, and each has its own advantages and disadvantages (Haniffa and Hudaib, 2006).…”

Section: Measurement Of Variablesmentioning

confidence: 99%

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Ownership concentration, ownership composition and the performance of the Kuwaiti listed non-financial firms

Al‐Saidi

Al‐Shammari

2015

International Journal of Commerce and Management

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If you would like to write for this, or any other Emerald publication, then please use our Emerald for Authors service information about how to choose which publication to write for and submission guidelines are available for all. Please visit www.emeraldinsight.com/authors for more information. About Emerald www.emeraldinsight.comEmerald is a global publisher linking research and practice to the benefit of society. The company manages a portfolio of more than 290 journals and over 2,350 books and book series volumes, as well as providing an extensive range of online products and additional customer resources and services.Emerald is both COUNTER 4 and TRANSFER compliant. The organization is a partner of the Committee on Publication Ethics (COPE) and also works with Portico and the LOCKSS initiative for digital archive preservation.

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Section: Measurement Of Variablesmentioning

confidence: 99%

“…Similar results were found byOngore (2011) in Kenya,Pervan et al (2012) in Croatia, andForoughi and Fooladi (2012) Iran. However,Karaca and Halil (2012) studied the situation in Turkey and found that ownership concentration positively impacts firm performance.…”

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confidence: 99%

Ownership concentration, ownership composition and the performance of the Kuwaiti listed non-financial firms

Al‐Saidi

Al‐Shammari

2015

International Journal of Commerce and Management

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“…Several studies have equated financial sustainability with profitability in current and future periods and measured it with long-term profitability ratios like return on asset (Okoye et al, 2017;Umobong, 2015;Chari et al, 2012;Karaca and Ekşi 2012). Also, since the study focuses on listed companies, stock market performance is also a component of financial performance and survival (Alakeci and Al-khatib, 2006).…”

Section: Introductionmentioning

confidence: 99%

“…Also, since the study focuses on listed companies, stock market performance is also a component of financial performance and survival (Alakeci and Al-khatib, 2006). Stock market performance has been measured in several studies using the Tobin"s Q ratio (Wahla et al, 2017;Karaca and Ekşi, 2012;Omowunmi, 2012;Heenetigala and Armstrong, 2011). There is a dearth of studies on the effect of operational efficiency on long-term profitability in the Nigerian manufacturing sector (Falope and Ajilore, 2009).…”

Section: Introductionmentioning

confidence: 99%

Operational efficiency and financial sustainability of listed manufacturing companies in Nigeria

Imhanzenobe¹

2019

J. Account. Taxation

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This study investigates the impact of operational efficiency on the financial sustainability of listed manufacturing companies in Nigeria. The recent economic crisis in Nigeria has caused an alarming decline in financial sustainability indicators of manufacturing companies. Managers are forced to make efficient use of resources to maximize profitability so as to cope with and compete in the harsh economic condition. Several measures of efficiency were analysed in relation to financial sustainability. There is a dearth of studies on effect of operational efficiency on long-term profitability in Nigerian manufacturing sector. Also, stock market performance has been ignored by studies in Nigeria. This study helps to fill these gaps by evaluating the impact of operational efficiency on long-term profitability (return on asset) and stock market performance (Tobin's Q). The efficiency variables considered include; employee growth, operating expenses, account receivables turnover, inventory turnover and asset turnover. A secondary panel dataset ranging from 2009 to 2016 for 16 listed manufacturing companies was obtained from the Bloomberg portal. The Ordinary Least Square method was used to test the 5 formulated hypotheses. The findings revealed that in relation to ROA, operating expenses and asset turnover had negative and positive significant relationship respectively. Employees' growth, account receivable turnover and inventory turnover were found to be insignificant. In relation to Tobin's q, both inventory and asset turnover had a positive significant relationship. Operating expense had a negative significant relationship. Again, employees' growth and account receivables turnover were found to be insignificant. Based on the findings, the study suggests that the common notion of employee retrenchment and keeping a thin workforce may not necessarily promote financial sustainability. The study recommends that firms should strive to reduce their operating expenses and implement efficient strategies that address asset and inventory turnover.

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“…Profitability continues to be the most important indicator of financial sustainability as the survival of any business depends, to a large extent, on its periodic profitability (Alshehhi et al, 2018;Umobong, 2015). Hence, studies have aligned financial sustainability with long term profitability (Okoye et al, 2017;Umobong, 2015;Chari et al, 2012;Karaca & Ekşi, 2012). Other indicators of financial sustainability include asset sustainability; efficiency; liquidity; solvency; stability; and growth.…”

Section: (23) Financial Sustainabilitymentioning

confidence: 99%

Perceived Financial Sustainability of Tourism Enterprises: Do Green Human Resource Management Practices Really Matter?

Abdeen¹,

Ahmed²

2019

JTHM

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Green Human Resource Management (GHRM) and Perceived Financial Sustainability (PFS) are two topics that seem important to the tourism and hospitality industry in Egypt. Green management, in general, and GHRM, in particular, and its relationship with PFS remain relatively underexplored. This research examines the relationship between GHRM and PFS in a selection of tourism and hospitality enterprises in Egypt. It uses the most commonly used four dimensions of GHRM; these are: green recruitment and selection, green training and development, green performance management; and green reward and pay. A survey was conducted on a non-random -purposive‖ sample of enterprises within the tourism and hospitality industry in Egypt. The findings of this research show that GHRM, in general, enhances managers' perception of financial sustainability. The results also reveal that both green training and development and green performance management are positively and significantly related with PFS, while green recruitment and selection and green reward and pay are not significantly related with PFS. The paper concludes with suggestions for managers of tourism and hospitality enterprises in Egypt and for future researches.

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The Relationship between Ownership Structure and Firm Performance: An Empirical Analysis over ?stanbul Stock Exchange (ISE) Listed Companies

Cited by 31 publications

References 23 publications

Ownership concentration, ownership composition and the performance of the Kuwaiti listed non-financial firms

Ownership concentration, ownership composition and the performance of the Kuwaiti listed non-financial firms

Operational efficiency and financial sustainability of listed manufacturing companies in Nigeria

Perceived Financial Sustainability of Tourism Enterprises: Do Green Human Resource Management Practices Really Matter?

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