Ownership structure and firm value: evidence from growth enterprise market (GEM) of Shenzhen stock exchange

Ownership structure and firm value: evidence from growth enterprise market (GEM) of Shenzhen stock exchange

The purpose of the study is to investigate the relationship between ownership structure (ownership concentration and managerial ownership) and firm value through the evidence of the Growth Enterprise Market (GEM) of Shenzhen Stock Exchange (SZSE) over the past 5 years period from 2013 to 2017. The...

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Main Author: Wan, Zhou
Format: Thesis
Language:eng
eng
eng
Published: 2019
Subjects:
HF Commerce.
Online Access:https://etd.uum.edu.my/9704/1/s822836_01.pdf
https://etd.uum.edu.my/9704/2/s822836_02.pdf
https://etd.uum.edu.my/9704/3/s822836_references.docx
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id my-uum-etd.9704
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spelling my-uum-etd.97042022-08-04T07:29:23Z Ownership structure and firm value: evidence from growth enterprise market (GEM) of Shenzhen stock exchange 2019 Wan, Zhou Aripin, Norhani Tunku Puteri Intan Safinaz School of Accountancy (TISSA) Tunku Puteri Intan Safinaz School of Accountancy (TISSA) HF Commerce. The purpose of the study is to investigate the relationship between ownership structure (ownership concentration and managerial ownership) and firm value through the evidence of the Growth Enterprise Market (GEM) of Shenzhen Stock Exchange (SZSE) over the past 5 years period from 2013 to 2017. The yearly data is collected from the China Stock Market & Accounting Research (CSMAR) Database and SZSE. Through a series of analysis, the multiple linear regression analysis is found to be the most appropriate. In order to examine the nonlinear relationship between the ownership structure and firm value, this study uses different models and introduces the quadratic terms on independent variables. The findings show there is an inverted U-shaped relationship between ownership structure and firm value of the GEM companies. There is no obvious relationship between the managerial ownership and firm value. Meanwhile, the firm size has a significant negative impact on firm value. 2019 Thesis https://etd.uum.edu.my/9704/ https://etd.uum.edu.my/9704/1/s822836_01.pdf text eng public https://etd.uum.edu.my/9704/2/s822836_02.pdf text eng public https://etd.uum.edu.my/9704/3/s822836_references.docx text eng public other masters Universiti Utara Malaysia
institution Universiti Utara Malaysia
collection UUM ETD
language eng
eng
eng
advisor Aripin, Norhani
topic HF Commerce.
spellingShingle HF Commerce.
Wan, Zhou
Ownership structure and firm value: evidence from growth enterprise market (GEM) of Shenzhen stock exchange
description The purpose of the study is to investigate the relationship between ownership structure (ownership concentration and managerial ownership) and firm value through the evidence of the Growth Enterprise Market (GEM) of Shenzhen Stock Exchange (SZSE) over the past 5 years period from 2013 to 2017. The yearly data is collected from the China Stock Market & Accounting Research (CSMAR) Database and SZSE. Through a series of analysis, the multiple linear regression analysis is found to be the most appropriate. In order to examine the nonlinear relationship between the ownership structure and firm value, this study uses different models and introduces the quadratic terms on independent variables. The findings show there is an inverted U-shaped relationship between ownership structure and firm value of the GEM companies. There is no obvious relationship between the managerial ownership and firm value. Meanwhile, the firm size has a significant negative impact on firm value.
format Thesis
qualification_name other
qualification_level Master's degree
author Wan, Zhou
author_facet Wan, Zhou
author_sort Wan, Zhou
title Ownership structure and firm value: evidence from growth enterprise market (GEM) of Shenzhen stock exchange
title_short Ownership structure and firm value: evidence from growth enterprise market (GEM) of Shenzhen stock exchange
title_full Ownership structure and firm value: evidence from growth enterprise market (GEM) of Shenzhen stock exchange
title_fullStr Ownership structure and firm value: evidence from growth enterprise market (GEM) of Shenzhen stock exchange
title_full_unstemmed Ownership structure and firm value: evidence from growth enterprise market (GEM) of Shenzhen stock exchange
title_sort ownership structure and firm value: evidence from growth enterprise market (gem) of shenzhen stock exchange
granting_institution Universiti Utara Malaysia
granting_department Tunku Puteri Intan Safinaz School of Accountancy (TISSA)
publishDate 2019
url https://etd.uum.edu.my/9704/1/s822836_01.pdf
https://etd.uum.edu.my/9704/2/s822836_02.pdf
https://etd.uum.edu.my/9704/3/s822836_references.docx
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