Abstract
The ownership of corporations has been studied in multiple disciplines and using diverse theoretical frameworks for several decades. Despite a wealth of research, both research gaps and contradictory findings are common. This is partly due to the fragmentation of the foci of individual studies. We synthesize the work done to date through a content analysis of 145 articles and 523 effect size estimates. On the basis of this review, we develop an integrated perspective to understand how institutional, government, family, executive, and board ownership affect a variety of firm outcomes. We conclude by offering new theoretical and contextual directions to better understand the role of ownership in shaping firm outcomes.
Original language | English (US) |
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Pages (from-to) | 1282-1314 |
Number of pages | 33 |
Journal | Journal of Management |
Volume | 42 |
Issue number | 5 |
DOIs | |
State | Published - Jul 1 2016 |
Externally published | Yes |
Keywords
- agency theory
- emerging economies
- firm performance
- investors
- ownership
- review
- shareholders
ASJC Scopus subject areas
- Finance
- Strategy and Management