Foreign Ownership and Firm Value: Evidence from Australian Firms

被引：12
|
作者：
Mishra A.V. [1 ]
机构：
[1] School of Business, University of Western Sydney, Sydney, NSW
来源：
Asia-Pacific Financial Markets | 2014年 / 21卷 / 1期
关键词：
Domestic cross holding; Employee held share; Firm value; Foreign institutional holding; Free float foreign ownership;
D O I：
10.1007/s10690-013-9177-0
中图分类号：
学科分类号：
摘要：
The paper employs various measures of foreign ownership and investigates impact of foreign ownership on value of firms in Australia. We find that both, traditional measure and free float measure of foreign ownership has a positive and significant impact on firm value. We also find that foreign institutional holdings in Australian firms' have a significant and positive impact on firm value. Results are robust to various econometric estimation techniques. Our results have implications for investors and corporate financial policies. © 2013 Springer Japan.
引用
收藏
页码：67 / 96
页数：29
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