Comparative Analysis of Managerial Ownership and Its Effect on Corporate Performance in Selected Asian and European Transition Economies  

作　　者：Darko Tipuric Domagoj Hruska Maja Darabos 

机构地区：[1]University ofZagreb, Zagreb, Croatia

出　　处：《Chinese Business Review》2011年第4期255-265,共11页中国经济评论（英文版）

摘　　要：This paper analyzes determinants and consequences of managerial ownership within ownership structures of the selected European and Asian transition countries. Focus of the analysis is the influence of the specific unification of ownership and control on corporate performance. Findings in the paper are based on research that produced empirical data for Croatia which is subsequently compared with evidence from other Asian and European transition countries facing the same issues. Consequently, transitional ownership structures, influenced by actual privatization process, like emergent corporate governance mechanisms, highly concentrated ownership and undeveloped markets for corporate control are also described. Research findings show that direct or indirect managerial ownership are important phenomena in transition countries, research has also shown that stable and concentrated managerial ownership have positive effects on firms＇ profitability in the observed transitional environments.

关 键 词：TRANSITION corporate governance market for corporate control ownership structure managerial ownership 

分 类 号：F270[经济管理—企业管理] F121[经济管理—国民经济]