Ownership Structure and Corporate Performance: The Case of Listed Tunisian Firms

Abstract

The objective of this work is to estimate the effect of the rights of employees on the sharing of the value added with the shareholders on the sample of 51Tunisian businesses belonging to the Tunisian index TUNINDEX during 2008-2012 period.Next, we aim to see if the ownership structure of firms can modify the report of force between the shareholders and the employees in terms of sharing this value.We will begin our article by a conceptual part in which we develop the hypotheses to be tested.In the second part, which will be empirical, we present, successively, the sample, the period of analysis, the variables used in our study, the model and the results obtained.Our work is organized as follows.In section 1, we will remember the relations existing between ownership structure and performance; and we will present our hypothesis of work.Section 2 presents the choice of our data and the econometric models used.Our results are presented in section 3. Finally, Section 4 concludes the article. A Summary of Theoretical LiteratureSeveral systems of government in the company are suggested to resolve the problems of divergence of interests and minimize the costs of Agency associated with conflicts.The structure of property in constitutes an important mechanism which may affect the value of the firm.In this framework, the researchers questioned the existence of a structure of optimal property that maximizes the performance.It is, therefore, necessary to ask the question of the extent to which the structure of property can have an impact on the value of the company.This question has facilitated several research studies that have attempted to highlight a clear link and interactive process between the performance of firms and the concentration of capital, on one hand, and the nature of the ownership on the other hand.The results do not

Cite this work

No public copy is stored for this record, so only the metadata is cited.

Stored only when both papers are in the corpus — 14 citations exist upstream.

Papers that cite the same references — the relational fallback while embeddings are still backfilling.