Abstract

GARCIA-MENESES, Erika; RODRIGUEZ-ESPINOSA, María de Lourdes  and  CASTILLO-PONCE, Ramón A. Corporate Ownership Structure and Economic Growth. Innovar [online]. 2013, vol.23, n.49, pp.31-40. ISSN 0121-5051.

In this document we evaluate the relationship between economic growth and firm ownership structure. We consider a sample of 26 countries with investment, openness, education and a measure of ownership structure that distinguishes between family and non-family firms as explanatory variables. The results suggest a significant and positive association between growth and the first three variables. With respect to the ownership measure, we find a negative relationship. That is, when family ownership prevails in a nation, the performance of the aggregate economy tends to be weak; compared with the case when ownership is dispersed.

Keywords : Economic Growth; Corporate Ownership Structure; Institutions.

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