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INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT International Peer Reviewed & Refereed Journals, Open Access Journal ISSN Approved Journal No: 2456-4184 | Impact factor: 8.76 | ESTD Year: 2016 Scholarly open access journals, Peer-reviewed, and Refereed Journals, Impact factor 8.76 (Calculate by google scholar and Semantic Scholar | AI-Powered Research Tool) , Multidisciplinary, Monthly, Indexing in all major database & Metadata, Citation Generator, Digital Object Identifier(DOI) |
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| Paper Title: | Exploring the Impact of Foreign Ownership and Ownership Concentration on Firm Performance: Evidence from Indian Manufacturing Firms |
| Authors Name: | Nidhi Gupta , Prashantu Mer |
| Download E-Certificate: | Download |
| Author Reg. ID: |
IJNRD_209993
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| Published Paper Id: | IJNRD2311386 |
| Published In: | Volume 8 Issue 11, November-2023 |
| DOI: | http://doi.one/10.1729/Journal.37052 |
| Abstract: | The dynamics of international business have changed significantly. The phenomena of foreign ownership and ownership concentration have taken centre stage in today's corporate environment. The subject of how foreign ownership and ownership concentration affect firm performance has emerged as a crucial problem as corporations look for opportunities outside of their national borders. This study intends to investigate the relationship among foreign ownership, ownership concentration with firm performance. For measuring firm performance market based measure i.e. Tobin’s Q and accounting based i.e. ROA & ROE is used. Foreign ownership is characterized by the percentage of shares held by foreign promoters. Herfindahl Index (HHI) is used for ownership concentration. The companies are selected form NSE 100 index and data is gathered from the Annual Statements and PROWESS IQ database for the total of 7 years. Dynamic Panel Data is used in the study and analysed using GMM estimates. After controlling endogeneity issue, result shows positive impact of Foreign ownership on Tobin’s Q and ROE on firm performance where as negative impact on ROA. On the other hand Ownership Concentration show positive impact on Tobin’s Q and ROE where as negative impact on ROA. |
| Keywords: | Foreign ownership, Ownership Concentration, Tobin’s Q, Return on Assets, Herfindahl Index, Return on Equity. |
| Cite Article: | "Exploring the Impact of Foreign Ownership and Ownership Concentration on Firm Performance: Evidence from Indian Manufacturing Firms", International Journal of Novel Research and Development (www.ijnrd.org), ISSN:2456-4184, Vol.8, Issue 11, page no.d779-d786, November-2023, Available :http://www.ijnrd.org/papers/IJNRD2311386.pdf |
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| ISSN: |
2456-4184 | IMPACT FACTOR: 8.76 Calculated By Google Scholar| ESTD YEAR: 2016 An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 8.76 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator |
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Published Paper ID:IJNRD2311386 Registration ID: 209993 Published In: Volume 8 Issue 11, November-2023 DOI (Digital Object Identifier): http://doi.one/10.1729/Journal.37052 Page No: d779-d786 Country: Varanasi, Uttar Pradesh, India Research Area: Commerce Publisher : IJ Publication Published Paper URL : https://www.ijnrd.org/viewpaperforall?paper=IJNRD2311386 Published Paper PDF: https://www.ijnrd.org/papers/IJNRD2311386 |
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ISSN: 2456-4184
Impact Factor: 8.76 and ISSN APPROVED
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