Abstract

ESPINOSA MENDEZ, Christian  and  MAQUIEIRA VILLANUEVA, Carlos. Performance and ownership concentration in Chilean firms that issue American Depositary Receipts (ADR). Cuad. Adm. [online]. 2010, vol.23, n.40, pp.95-116. ISSN 0120-3592.

This article researches the relation between performance and ownership concentration in 12 Chilean firms that issue American Depositary Receipts (ADR) during the period 1998 – 2007. As was seen in the results reported for the United States, this study did not find any statistically significant relation between ownership structure and performance for the Chilean ADR-issuing companies. That suggests that a firm's ownership concentration does not necessarily affect its performance.

Keywords : Ownership structure; firm performance; panel data.

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