Ownership Structure and Corporate Performance

By H. Demsetz, Belén Villalonga. 2001

2,494 citations recorded by the source corpus.

How researchers see this paper

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Corporate Governance, Accounting and Finance: A Review (2011, neutral): “Accounting for the possibility of endogeneity, there appears to be no causal relationship between insider ownership and firm performance (Demsetz and Lehn, 1985; Loderer and Martin, 1997; Cho, 1998; Demsetz and Villalonga, 2001; Bhagat and Black, 2002; Coles et al., 2007; McConnell et al., 2008).”
Do Leverage, Dividend Payout, and Ownership Concentration Influence Firms' Value Creation? An Analysis of Brazilian Firms (2010, background): “Leverage, dividends, or ownership structure can be affected by the value of the firm, so they become endogenous variables (Cho 1998; Demsetz and Villalonga 2001; Himmelberg et al. 1999).”
Corporate Governance, Family Ownership and Firm Value: The Canadian Evidence (2005, neutral): “There is evidence suggesting that this is not the case (Demsetz and Villalonga, 2001).”
Trade credit and SME profitability (2014, methodology): “Moreover, like Dittmar and Mahrt-Smith (2007), we include in the model the DUMMYit variable on its own, because if an endogenous relation exists, it is more likely to show up in the dummy variable than in the interaction with receivables.”