Keywords
firm performance
panel data
How to Cite
Abstract
This article researches the relation between performance and ownership concentration in 12 Chilean firms that issue American Depositary Receipts (ADR) during the period 1998 – 2007. As was seen in the results reported for the United States, this study did not find any statistically significant relation between ownership structure and performance for the Chilean ADR-issuing companies. That suggests that a firm’s ownership concentration does not necessarily affect its performance.
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