| Author | Nguyen Thi Kim Anh |
| Call Number | AIT RSPR no.SM-08-22 |
| Subject(s) | Retail trade--Ownership
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| Note | Submitted in partial fulfillment of the requirements for the degree of Master of Business Administration |
| Publisher | Asian Institute of Technology |
| Series Statement | Research studies project report ; no. SM-08-22 |
| Abstract | This research is to study the relation between family ownership, ownership concentration and firms performance and sales growth in comparison to other types of ownership in the retail industry around the world. For our research, we use the financial data downloaded from Worldscope database (through Thomson One Banker) of 17,058 firm-year observations, representing the sample data of 2,843 firms in the retail industry during the period from 2001 - 2006. We find that family firms account for nearly one-forth (24%) of the retail industry. Contrary to the argument of agency cost theory, we found that family ownership has insignificant positive impact to firms value (Tobin's Q). However, in comparison to non-family firms, family firms have negative correlation to accounting measures of firms performance (ROA), but positive relation to sales growth rate (sales three-year growth). Ownership concentration of the biggest five shareholders have positive relation to firms value, but negative relation to accounting measures of firms performance and sales growth. Additional analysis shows that as the biggest shareholder, employees and corporate enhance firms value at statistical significant level. Corporate as the biggest shareholder also have positive impact to accounting measure of firms performance and sales growth |
| Year | 2008 |
| Corresponding Series Added Entry | Asian Institute of Technology. Research studies project report ; no. SM-08-22 |
| Type | Research Study Project Report (RSPR) |
| School | School of Management (SOM) |
| Department | Other Field of Studies (No Department) |
| Academic Program/FoS | Master of Business Administration (MBA) (Publication code=SM) |
| Chairperson(s) | Sundar Venkatesh; |
| Examination Committee(s) | Sunnunta Suengthai;Do Ba Khang; |
| Scholarship Donor(s) | AIT-French Fellowship; |
| Degree | Research Studies Project Report (M.B.A.) - Asian Institute of Technology, 2008 |