• norsk
    • English
  • English 
    • norsk
    • English
  • Login
View Item 
  •   Home
  • Handelshøyskolen BI
  • Student papers
  • Master of Science
  • View Item
  •   Home
  • Handelshøyskolen BI
  • Student papers
  • Master of Science
  • View Item
JavaScript is disabled for your browser. Some features of this site may not work without it.

Ownership Identity's Effect on Firm Performance

Stensland, Frida; Nyrud, Anette
Master thesis
Thumbnail
View/Open
2606568.pdf (1.783Mb)
URI
https://hdl.handle.net/11250/2686636
Date
2020
Metadata
Show full item record
Collections
  • Master of Science [1823]
Abstract
This thesis is a research on differences in performance between state owned and

privately owned companies in Norway, including all registered companies in the

time period between 2000 and 2017. Norway is a country where the state plays an

important role in regular markets due to their significant share of ownership in the

country. Hence, the management of state ownership in Norway is important for

the trust in the Norwegian capital market. Previous research suggest that state

ownership have a negative impact on firm performance as governments are also

expected to use their influence to reach sociopolitical goals that are not profit

maximizing. This thesis hypothesize that state owned firms have lower

performance than private firms, as private investors commonly focus more on

efficiency, profit maximizing and personal gain.

Through a cross-sectional analysis, the hypotheses are investigated

simultaneously. Firm performance is defined as return on assets, and the impact

by state owned and privately owned firms are tested by defining variables for

ownership identity in five different intervals, as well as corporate governance and

firm effects.

The results show that state owned firms have lower performance than privately

owned firms, which was further confirmed when testing for the effects on

performance of firms having the state as a large blockholder compared to nonstate

blockholders. Higher number of blockholders affect firm performance

positively, while a higher number of board members have a negative impact on

performance in a firm. In addition, we find that the control variables of our

analysis have a high degree of explanatory power, giving them a relative

importance when studying firm performance in terms of ownership identity.

Moreover, state owned companies are found to be associated with a more negative

firm performance, both when holding a small stake of a company as well as when

being a large blockholder.
Description
Masteroppgave(MSc) in Master of Science in Business, Accounting and Business Control - Handelshøyskolen BI, 2020
Publisher
Handelshøyskolen BI

Contact Us | Send Feedback

Privacy policy
DSpace software copyright © 2002-2019  DuraSpace

Service from  Unit
 

 

Browse

ArchiveCommunities & CollectionsBy Issue DateAuthorsTitlesSubjectsDocument TypesJournalsThis CollectionBy Issue DateAuthorsTitlesSubjectsDocument TypesJournals

My Account

Login

Statistics

View Usage Statistics

Contact Us | Send Feedback

Privacy policy
DSpace software copyright © 2002-2019  DuraSpace

Service from  Unit