Ownership concentration and firm performancethe moderating effect of the monitoring and provision of resources board roles
- Jaime Guerrero-Villegas 1
- Pilar Giráldez-Puig 2
- Leticia Pérez-Calero Sánchez 1
- José Manuel Hurtado-González 1
- 1 Department of Management and Marketing, Universidad Pablo de Olavide
- 2 Department of Financial Economics and Accounting, Universidad Pablo de, Seville
ISSN: 0210-2412
Year of publication: 2018
Volume: 47
Issue: 4
Pages: 464-484
Type: Article
More publications in: Revista española de financiación y contabilidad
Abstract
This paper explores the effect that the monitoring and the provision of resources board roles have on the relationship between ownership concentration and firm performance. The sample of this study is made up of 579 European firms registered on the STOXX Europe 600 index during the period 2002–2011. The results of this study show that the monitoring provided by the board positively influences the effect that ownership concentration has on performance. The results also highlight that the moderating effect of the provision of resources role has a positive influence on firm performance concerning almost all levels of ownership concentration, diminishing and having slightly negative effects when the concentration levels are extremely high.
Funding information
Funders
-
Ministry of Economy and Competence of Spain
- ECO2016-75047-P and ECO 2014-58799-R
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