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Foreign Ownership and Firm Value: Evidence from Australian Firms

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  • Anil Mishra

Abstract

The paper employs various measures of foreign ownership and investigates impact of foreign ownership on value of firms in Australia. We find that both, traditional measure and free float measure of foreign ownership has a positive and significant impact on firm value. We also find that foreign institutional holdings in Australian firms’ have a significant and positive impact on firm value. Results are robust to various econometric estimation techniques. Our results have implications for investors and corporate financial policies. Copyright Springer Japan 2014

Suggested Citation

  • Anil Mishra, 2014. "Foreign Ownership and Firm Value: Evidence from Australian Firms," Asia-Pacific Financial Markets, Springer;Japanese Association of Financial Economics and Engineering, vol. 21(1), pages 67-96, March.
    • Handle: RePEc:kap:apfinm:v:21:y:2014:i:1:p:67-96
    DOI: 10.1007/s10690-013-9177-0
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