Please use this identifier to cite or link to this item:
|Title:||The effect of institutional ownership on firm performance: the case of U.S.-listed shipping companies||Authors:||Tsouknidis, Dimitris||Major Field of Science:||Social Sciences||Field Category:||Economics and Business||Keywords:||Dynamic endogeneity;Dynamic panel data;Firm performance;Institutional ownership;U.S. listed shipping companies||Issue Date:||4-Jul-2019||Source:||Maritime Policy and Management, 2019, vol. 46, no. 5, pp. 509-528||Volume:||46||Issue:||5||Start page:||509||End page:||528||Journal:||Maritime Policy and Management||Abstract:||This paper examines the relationship between institutional ownership and firm performance for U.S.-listed shipping companies using quarterly 13F reports of institutional holdings over the period 2002 to 2016. Traditionally, public shipping companies exhibit a large concentration of ownership as specific individuals and families hold large percentages of the total shares outstanding. However, institutional investors also hold a substantial percentage of ownership of U.S.-listed shipping firms, whose effects on firm performance have not been examined previously in the literature. Results reveal a negative relationship between the percentage of institutional ownership and firm performance, which is primarily attributed to non-strategic rather than strategic institutional investors. This result survives a set of panel data estimators which take into account the presence of dynamic endogeneity in the relationship examined.||ISSN:||1464-5254||DOI:||10.1080/03088839.2019.1584408||Rights:||© Taylor & Francis||Type:||Article||Affiliation :||Cyprus University of Technology|
|Appears in Collections:||Άρθρα/Articles|
checked on Aug 31, 2020
checked on Sep 19, 2020
Items in KTISIS are protected by copyright, with all rights reserved, unless otherwise indicated.