The property structure and economic performance: a empirical evaluation for open companies in Brazil

Abstract

The property structure of firms is determined by the concentration of property and the identity of the majority shareholder. The concentration of property refers to the propotion of shares held by the majority shareholder or group. This shareholder may be a family, the state, a bank, an institutional investor or a non-financial firm, these being the categories used for defining identity. The objective in this article is to evaluate the extent to which the property structure affects organizational performance. These relations are evaluated by means of multiple regressions, configured in the form of panels. The article is divided in five topics, including the introduction and conclusion. The second topic discusses the relations between property concentration, the identity of shareholders, and organizational performance. The third presents the research methodology adopted to investigate these relations. Finally, the fourth topic presents the results of the empirical research.