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Title: Relevance of ownership structure on profitability and financial policies
Authors: Ang, Suat Ching
Koh, Hui Lan
Lee, Lai Hiang
Keywords: DRNTU::Business
Issue Date: 1995
Abstract: This study examines empirically the impact of ownership structures on a firm's financial performance, dividend and financial policies adopted and directors' remuneration package. Based on agency theory, we postulate that ownermanaged firms outperform non-owner managed firms. This study is carried out based on a sample of firms listed on the Stock Exchange of Singapore. We relax the assumption of homogeneity within the owner-managed and nonowner managed firms to evaluate the effect of different ownership structures on performance. While the tests fail to reveal any significant differences between the performance of our sampled firms, they provide valuable insight into the role which ownership structures play in determining a firm 's financial performance, capital structure, dividend policies adopted as well as the directors' remuneration schemes.
Rights: Nanyang Technological University
Fulltext Permission: restricted
Fulltext Availability: With Fulltext
Appears in Collections:NBS Student Reports (FYP/IA/PA/PI)

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