Corporate governance and institutional ownership: evidence from Jordan

Al-Najjar, Basil (2010) Corporate governance and institutional ownership: evidence from Jordan. Corporate Governance, 10 (2). ISSN 1472-0701

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Abstract

This paper is one of the first papers to investigate the relationship between ownership structure and corporate governance, namely the factors that determine institutional investors' investment decisions in emerging markets using Jordanian data. A panel data analysis is applied to the dataset which includes non-financial Jordanian firms. The results show that the Jordanian institutional investors conceder firms capital structure, profitability, business risk, asset structure, asset liquidity, growth rates, and firm size when they take their investment decisions. In addition, institutional investors in Jordan prefer to invest in services firms rather than manufacturing firms. Furthermore, the study cannot find any significant relationship between firms' dividend policy and institutional investors. Finally, this paper investigated the factors that affect the probability that institutional investors will control the firm.

Item Type:Article
Additional Information:

This paper has also been given at Corporate Governance research conference held in Birmingham in 2008.

Research Areas:Business > Finance & Accounting
ID Code:3475
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Deposited On:04 Jan 2010 12:35
Last Modified:09 Jan 2014 08:13

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