{"product_id":"ownership-structure-and-firm-performance-von-entela-fico-shehaj","title":"OWNERSHIP STRUCTURE AND FIRM PERFORMANCE","description":"\u003cp\u003eIrrespective of the method of privatisation used,  ownership has become more concentrated over time in  Albanian firms. The underdeveloped corporate  governance mechanisms created a primary role for  ownership concentration as the main vehicle by which  owners could exercise control over managers. The  empirical analysis in this thesis shows that certain  firm characteristics have a significant impact on  the evolution of ownership structure.  The analysis  on the impact of ownership structure on the  performance of privatised firms in Albania do not  provide support for the conventional view that  ownership concentration has a positive effect on  firm performance. However, firm characteristics  other than ownership concentration may explain  the variation in the performance of these firms   suggesting that owners choose the level of  concentration which best suits their value  maximisation objective. The overall analysis  concludes with certain policy implications mostly  related to a functional stock exchange,  strengthening judicial system and law enforcement  and the creation of an agency to maintain  information on the financial performance of firms.\u003c\/p\u003e\u003cdiv class=\"aw-variant-hidden-subtitle-div\" id=\"aw-variant-subtitle-9783838374659\"\u003e\u003ch3\u003eA Study of Privatisation, Evolution of Ownership and Firm Performance in Albania\u003c\/h3\u003e\u003c\/div\u003e","brand":"Autorenwelt Shop","offers":[{"title":"Softcover - 9783838374659","offer_id":39469175210077,"sku":"9783838374659","price":79.0,"currency_code":"EUR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0940\/0622\/files\/636007cc-d616-4fd8-aec5-a850275bb92a.jpg?v=1759036675","url":"https:\/\/shop.autorenwelt.de\/products\/ownership-structure-and-firm-performance-von-entela-fico-shehaj","provider":"Autorenwelt Shop","version":"1.0","type":"link"}