Article | Open Access | Published: 10 July 2018
OWNERSHIP STRUCTURES, INVESTORS CONFIDENCE AND FINANCIAL DECISIONS IN FAMILY FIRMS: EVIDENCE FROM GCC MARKETS
| Views: | 22 | | | Downloads: | 13 |
Abstract:
The objective of this study is to examine the impact of financial decisions on the ownership structure. This study adopted two themes of ownership structure (e.g., 25% & 50%) thatcategorized the family-owned firms (FOF) and non-family firms (NFOF). The data wascollected from 286 firms listed at GCC stock exchanges annual reports, stock exchangedatabase, and DataStream that range from 2010-2016 periods. The findings of this study showed that the FOFs have lesser investment-internal fund sensitivity than NFOFs. Though, there is an insignificant effect of the block holder on investment funds sensitivity. However, the little implication of dividend payout in FOFs as compare to NFOFs was disclosed in the results. Moreover, it wrapped up that there are less agency problems and informationasymmetry in FOFs comparatively
Keywords:
Ownership structure, Investment sensitivity, Family-firms, financial decision, Gulf Cooperation Council (GCC)
Publisher:
ILMA UNIVERSITY
Published:
10 July 2018
Issue:
Issue 1 : Volume 14
E-ISSN:
2409-6520
P-ISSN:
2414-8393
This is an open access article distributed under the terms of the Creative Commons Attribution CC BY 4.0 license, which permits any use, distribution, and reproduction of the work without further permission provided the original author(s) and source are credited.