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AuthorZeitun, Rami
AuthorAl-Kawari, Duha
Available date2024-02-29T14:55:46Z
Publication Date2012-03-01
Publication NameCorporate Ownership and Control
Identifierhttp://dx.doi.org/10.22495/cocv9i3art10
ISSN17279232
URIhttps://www.scopus.com/inward/record.uri?partnerID=HzOxMe3b&scp=84909988655&origin=inward
URIhttp://hdl.handle.net/10576/52520
AbstractThis study investigates the effect of government ownership structure, business risk and financial leverage among other variables (size, age and growth) on a company’s performance in a panel data, using 191 companies from five GCC countries (Qatar, Saudi Arabia, Oman, Bahrain and Kuwait), during the period 1999- 2006. Our results indicate that government ownership affects the performance and value of GCC firms. Government ownership positively and significantly affects firm’s performance ROA. The insignificance of a firm’s leverage (LEV) indicates that the firm’s performance is irrelevant to its capital structure, and that supports Modigliani and Miller (M&M) (1958) argument. Our finding is that business risk (BETA) significantly and positively affects firm’s performance ROE and supports the classic risk trade-off arguments. Furthermore, age was found to have a positive and significant impact on firm’s performance ROA and ROE.
Languageen
PublisherVirtus Interpress
SubjectAgency theory
Business risk
Financial leverage
Firm performance
GCC countries
Government ownership
Ownership structure
TitleGovernment ownership, business risk, financial leverage and corporate performance: Evidence from gcc countries
TypeArticle
Issue Number3
Volume Number9
dc.accessType Abstract Only


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