The impact of corporate ownership structure on the firm profitability: A study of retailing listed companies in HOSE
Abstract
The management team and the shareholders play the important role in establishing and operating the company. However, how their ownership may affect the profitability of the companies is still questioning. There have been many researches on this study and many different conclusions on the relationship between ownership structure and profitability have been introduced to the public. Besides, in Vietnam, not many studies have carried out to identify clearly the ownership structure effects, hence, this study will help give more evidence on further research on the same topic. This study consists of 162 listed non-financial companies from 7 industries from 2009 – 2011. Ownership concentration, inside ownership and ownership identity
are identified to evaluate the efficiency of ownership structure while return on assets is used to evaluate the firm profitability. Besides, firm size, leverage and firm age are treated as the control variables. The results indicates the negative relationship between the inside ownership and firm profitability, while most gives the result of non-relationship between ownership concentration
and firm profitability.