The Comparative Study of Ownership Structure Effects (Mix and Concentration) on the Value of Companies Listed in Tehran Stock Exchange (Iran) and Bombay Stock Exchange (India)

International Journal of Advanced Studies in Humanities and Social Science Pub Date : 2019-01-01 DOI:10.33945/sami/ijashss.2019.1.8

Hossein Ali Jalali, A. Asadi, S. Y. A. Serkani

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引用次数: 1

Abstract

The present is a comparative study investigating the effect of ownership structure (concentration and mix) on the value. It is an important issue in financial management texts and financial management discussions of companies. The present work is aimed to find the effect of ownership concentration and shareholding mix of a company in its value. The statistical population of the study includes all companies of pharmaceuticals and food industry, automobiles and auto parts, electricity, oil and gas, industry and mine except than investing and holding companies listed in Tehran stock exchange and Bombay stock exchange during 2006-2010. Based on the findings, there is a positive and significant relation between ownership concentration (natural and institutional) and the value of companies listed in Tehran stock exchange and Bombay stock exchange while there is no significant relation between ownership type (natural and institutional) and the value of companies listed in Tehran stock exchange. Further, in Bombay stock exchange, a negative and significant relation is observed between institutional ownership and the value of companies and also a positive and significant relation between natural ownership and the value of companies.

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股权结构(混合和集中)对伊朗德黑兰证券交易所与印度孟买证券交易所上市公司价值的影响比较研究

本文对股权结构(集中度和股权混合)对价值的影响进行了比较研究。这是财务管理文献和企业财务管理讨论中的一个重要问题。本文旨在探讨股权集中度和股权结构对公司价值的影响。本研究的统计人口包括2006-2010年期间除在德黑兰证券交易所和孟买证券交易所上市的投资和控股公司外的所有制药和食品工业、汽车和汽车零部件、电力、石油和天然气、工业和矿业公司。研究发现，股权集中度(自然股权和制度股权)与德黑兰证券交易所和孟买证券交易所上市公司价值之间存在显著的正相关关系，而股权类型(自然股权和制度股权)与德黑兰证券交易所上市公司价值之间不存在显著的正相关关系。此外，在孟买证券交易所，机构所有权与公司价值之间存在显著的负相关关系，而自然所有权与公司价值之间存在显著的正相关关系。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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International Journal of Advanced Studies in Humanities and Social Science

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