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    ASIA unversity > 管理學院 > 財務金融學系 > 期刊論文 >  Item 310904400/17556

    Please use this identifier to cite or link to this item: http://asiair.asia.edu.tw/ir/handle/310904400/17556

    Title: Does Endogenously-Determined Ownership Matter on Performance? Dynamic Evidence from the Emerging Taiwan Market
    Authors: 林盈利;Lin, Ying-Li
    Contributors: 財務金融學系
    Keywords: emerging Taiwan market;endogeneity;life-cycle stage;ownership structure;simultaneous equations framework;unbalanced panel
    Date: 2011-11
    Issue Date: 2012-11-26 10:37:01 (UTC+8)
    Abstract: "This paper reexamines the relationship between ownership and firm performance. Using an unbalanced panel data in the emerging Taiwan market, we adopt a simultaneous equations framework to explore the persistence of the relationship across the life cycle of firms over time. Empirical results suggest that firm performance is a function of institutional ownership, especially in the mature stage. Through dynamic specification, evidence appears to account for lack of persistence of the impacts of ownership on performance over time. To alleviate a potential simultaneity issue, we construct a lagged specification to examine the sensitivity of our results. Consequently, the main results are found to be robust.[ABSTRACT FROM AUTHOR]

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    Appears in Collections:[財務金融學系] 期刊論文

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