| dc.description.abstract | The purpose of this research is to clarify the mutual and interlocking
relationships of common ownership structure and firm performance. With empirical
research of common ownership, factors that impact financial performance such as firm age,
board size, firm size, leverage and the linkage between common ownership and firm
performance. The sample of 110 non-financial listed firms in HOSE in basic materials and
industrials industry from 2015 to 2019. Tobin’s Q is used as a measurement of firm
performance. The variable of interest is common ownership which is conducted by four
proxies as Park et al., (2019). The study is conducted in quantitative method, particularly
the cross-sectional time-series method. Of which, there is a positive impact of common
ownership on firm market-value performance. Moreover, leverage could improve firm
performance; bigger firms reduce firm value and this study fails to prove the association of
firm performance with board size and firm age. This study offers a significant contribution
to the literature by proving the positive association between common ownership and firm
performance. However, this study still has some limitations in ignoring cross-holding,
different standards for industry classification. | en_US |
