تبیین الگوی مالکیت خانوادگی بر عملکرد شرکت‌های پذیرفته-شده در بورس اوراق بهادارتهران

نوع مقاله: علمی-

نویسندگان

1 استادیار، دانشگاه شهید بهشتی،‌تهران

2 دانشجوی کارشناسی ارشد، دانشگاه تهران

3 دانشجوی کارشناسی ارشد، دانشگاه آزاد اسلامی، واحد بابل

چکیده

هدف اصلی این تحقیق، تبیین الگوی مالکیت خانوادگی برعملکرد شرکت­‌های پذیرفته­‌شده در بورس اوراق بهادار تهران طی سال­‌های 1386 تا 1390 می­‌باشد. تاثیر مالکیت خانودگی بر بازده دارأیی­‌ها (ROA) به‌­عنوان معیار عملکرد شرکت مورد بررسی قرار گرفته است. شرکت­‌هایی خانوادگی محسوب شده که حداقل 20% از سهام آنها به­صورت فردی یا گروهی در دست اعضای خانواده باشد و یا حداقل یکی از اعضای نسبی یا سببی خانواده، عضو هیأت مدیره و یا مدیر اجرأیی بوده و به­‌طور فعال در هیأت مدیرة شرکت، مشارکت داشته باشد. نتایج 95 شرکت طی سال‌­های 1386 تا 1390 در سطح اطمینان 95% نشان می­دهد، میزان مالکیت خانوادگی تأثیر مستقیم و مثبتی بر عملکرد شرکت‌­ها (ROA) دارد و از این میزان در حد50% به بالا، مالکیت خانوادگی، تأثیر مستقیم و معناداری بر عملکرد شرکت دارد و برای سطوح پایین‌­تر این تأثیر معنادار نمی­‌باشد. با افزایش میزان مالکیت خانوادگی، مقدار ضرأیب نیز افزایش یافته که با بالا رفتن میزان مالکیت خانوادگی شدت تأثیر آن بر عملکرد شرکت افزایش می­‌یابد. وجود مالکیت خانوادگی تأثیر مستقیم و مثبتی بر عملکرد شرکت‌­ها (ROA) دارد.
 

کلیدواژه‌ها


عنوان مقاله [English]

Explain the Pattern of Family Ownership on the Performance of Listed Companies in Tehran Stock Exchange

نویسندگان [English]

  • Parivash Zahedi 1
  • Seyyed Ramin Abolfazli 2
  • Akbar Mardaneh Khamaneh 3
1 Assistant Professor, Shahid Beheshti University, Tehran
2 MA Student, University of Tehran
3 MA Student, Islamic Azad University of Babol Branch
چکیده [English]

The main target of this research is to explain the pattern of family ownership on the performance of listed companies on the Tehran stock exchange from the year 2006 to 2011.In this research family Ownership has been surveyed as an independent variable and the influence of it on the Return on asset as the criteria of Firm performance has been studied. Firms in which at least 20% of their exchange is handling with individual or group families member or at least one of the relatives are board of directors of executive manager has been counted as family firms. The result of analyzing 95 Firms during 2006 till 2011 on 95% level of confidence shows that: The rate of family Ownership has the positive and direct influence of the performance of firms (ROA).From the family Ownership rate of 50% and higher, family Ownership has direct and meaningful influence of the performance of the firms and this is not valid for lower rates. Also with the increasing of the rate of family Ownership the coefficients amount has increase which shows that with increasing the rate of family Ownership its influence intensity of it on the Firm performance increases. The existence of family Ownership has the positive and direct influence of the performance of Firms (ROA).

کلیدواژه‌ها [English]

  • Ownership structure
  • Family Ownership
  • Firm's Performance
  • Return on Asset
 

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