Please use this identifier to cite or link to this item: http://hdl.handle.net/1893/22967
Appears in Collections:Accounting and Finance Journal Articles
Peer Review Status: Refereed
Title: Corporate Ownership, Control, and Firm Performance: Evidence from a Nascent and Unregulated Market
Authors: Acheson, Graeme
Campbell, Gareth
Turner, John D
Vanteeva, Nadia
Contact Email: graeme.acheson@stir.ac.uk
Issue Date: Mar-2016
Publisher: Cambridge University Press for the Economic History Association
Citation: Acheson G, Campbell G, Turner JD & Vanteeva N (2016) Corporate Ownership, Control, and Firm Performance: Evidence from a Nascent and Unregulated Market, Journal of Economic History, 76 (1), pp. 1-40.
Abstract: Scholars have long debated whether ownership matters for firm performance. The standard view regarding Victorian Britain is that family-controlled companies had a detrimental effect on performance. In this article, we examine this view using a hand-collected corporate ownership dataset. Our main finding is that it was not necessarily the broad structure of corporate ownership that mattered for performance, but whether family blockholders had a governance role. Large active blockholders tended to increase operating performance, implying that they reduced managerial expropriation. Contrastingly, we find that directors who were independent of large owners were more likely to increase shareholder value.
Type: Journal Article
URI: http://hdl.handle.net/1893/22967
DOI Link: http://dx.doi.org/10.1017/S0022050716000450
Rights: The publisher does not allow this work to be made publicly available in this Repository. Please use the Request a Copy feature at the foot of the Repository record to request a copy directly from the author. You can only request a copy if you wish to use this work for your own research or private study.
Affiliation: Accounting and Finance
Queen's University Belfast
Queen's University Belfast
University of the West of England

Files in This Item:
File Description SizeFormat 
Acheson et al_JEH_2016.pdf372.98 kBAdobe PDFUnder Embargo until 31/12/2999     Request a copy

Note: If any of the files in this item are currently embargoed, you can request a copy directly from the author by clicking the padlock icon above. However, this facility is dependant on the depositor still being contactable at their original email address.

This item is protected by original copyright



Items in the Repository are protected by copyright, with all rights reserved, unless otherwise indicated.

If you believe that any material held in STORRE infringes copyright, please contact library@stir.ac.uk providing details and we will remove the Work from public display in STORRE and investigate your claim.