Ownership, Strategy and Performance: Is the Dichotomy Sufficient?

Eric R. Gedajlovic

59 citations0/0 files storedOrganization Studies

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Abstract

Do ownership characteristics moderate strategy, or is ownership a strategic vari able in itself? This is the research question that motivates this study. In order to shed light on this issue, Berle and Means' (1932) separation of ownership and control thesis as well as Demsetz and Lehn's (1985) symmetrical model of owner ship are empirically evaluated in the Canadian context. The findings indicate that neither framework is sufficient to explain the strategic conduct and profitability of firms operating in Canada. It is suggested that a broader based approach incorporating government and foreign ownership distinctions would be more promising avenues for future research than those which solely consider Berle and Means' (1932) dichotomy.

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References

1976Theory of the firm: Managerial behavior, agency costs and ownership structure 1983Separation of Ownership and Control 1990The Competitive Advantage of Nations 1986The Economic Institutions of Capitalism 1996Production, Information Costs and Economic Organization 1979The External Control of Organizations: A Resource Dependence Perspective 1966International Investment and International Trade in the Product Cycle 1985The Structure of Corporate Ownership: Causes and Consequences

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