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The Influence of Ownership on Performance: Stakeholder and Strategic Contingency Perspectives

Author

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  • Keith D. Brouthers
  • Maarten Gelderman
  • Patrick Arens

Abstract

In this paper we extend the corporate governance literature by combining stakeholder and strategic contingency theories to provide an explanation of how owners influence the financial performance of firms. We hypothesize that ownership influences financial performance through three other variables: strategic orientation, organizational structure, and management style. Using LISREL analysis, we find this indirect influence to be significant. We also discuss implications for future research.

Suggested Citation

  • Keith D. Brouthers & Maarten Gelderman & Patrick Arens, 2007. "The Influence of Ownership on Performance: Stakeholder and Strategic Contingency Perspectives," Schmalenbach Business Review (sbr), LMU Munich School of Management, vol. 59(3), pages 225-242, July.
    • Handle: RePEc:sbr:abstra:v:59:y:2007:i:3:p:225-242
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    Citations

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    Cited by:

    1. Patel, Vijay K. & Manley, Scott C. & Hair, Joseph F. & Ferrell, O.C. & Pieper, Torsten M., 2016. "Is stakeholder orientation relevant for European firms?," European Management Journal, Elsevier, vol. 34(6), pages 650-660.
    2. Abdallah, Abed Al-Nasser & Ismail, Ahmad K., 2017. "Corporate governance practices, ownership structure, and corporate performance in the GCC countries," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 46(C), pages 98-115.
    3. Puig, Francisco & Debón, Ana & Cantarero, Santiago & Marques, Helena, 2023. "Location, profitability, and international trade liberalization in European textile-clothing firms," Economic Modelling, Elsevier, vol. 129(C).
    4. Asmund Rygh & Gabriel R. G. Benito, 2022. "Governmental goals and the international strategies of state-owned multinational enterprises: a conceptual discussion," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 26(4), pages 1155-1181, December.
    5. Xie, Qunyong, 2017. "Firm age, marketization, and entry mode choices of emerging economy firms: Evidence from listed firms in China," Journal of World Business, Elsevier, vol. 52(3), pages 372-385.

    More about this item

    Keywords

    Corporate Governance; Emerging Markets; Privatization; SOE; State Ownership;
    All these keywords.

    JEL classification:

    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
    • L1 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance

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