Institutional Ownership and Firm Performance: Evidence from France
The IUP Journal of Behavioral Finance, Vol. VII, No. 4, pp. 35-46, December 2010
Posted: 31 Jan 2011
Date Written: January 31, 2011
Abstract
This paper examines the relationship between institutional ownership and firm performance for 35 companies listed on the French financial market from 2002 to 2005. The empirical results provide evidence on the endogeneity of institutional ownership and support previous studies arguing the endogeneity of ownership structure. In that case, institutional ownership was found to have a significant negative impact on firm performance as measured by a proxy for Tobin’s Q in a simultaneous equation system.
Suggested Citation: Suggested Citation
Lanouar, Charfeddine and Elmarzougui, Abdelaziz, Institutional Ownership and Firm Performance: Evidence from France (January 31, 2011). The IUP Journal of Behavioral Finance, Vol. VII, No. 4, pp. 35-46, December 2010, Available at SSRN: https://ssrn.com/abstract=1751860