Separation of Ownership and Control in the Modern Corporation

Hindley, Brian

doi:10.1086/466687

Cited by 71 publications

(23 citation statements)

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“…However, they argue that ownership overall has little effect on the economic actions undertaken by large firms; rather, the key determinants are existing power relations within the firm, the concept of control that dominates the firm's actions, and the action of competitors. Several other studies (Hindley, 1970;Kamerschen, 1968) also have found that management control exerts no important influence on profit rates. James and Soref (1981) studied the relationship between dismissal of corporate chiefs and five measures of managerial and owner control, with the expectation under the managerial revolution thesis that corporate chiefs at managerial-controlled organizations would have more job security.…”

Section: Do Managers Serve Themselves or Owners?mentioning

confidence: 88%

Corporate News Structure and the Managerial Revolution

Demers¹,

Merskin²

2000

Journal of Media Economics

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Critics contend that corporate news organizations are destroying democracy because they place more emphasis on profits than on information diversity and other nonprofit goals considered crucial for creating or maintaining a political democracy. Research shows that corporate news organizations tend to be more profitable than entrepreneurial news organizations; however, they actually place less emphasis on profits and more on product quality and other nonprofit goals. More importantly, the "critical corporate model" appears to contain a logical flaw, the "approved contradiction," which claims that professional managers should maximize profits more than the owners. This claim contradicts the managerial revolution hypothesis that expects corporate organizations to place less emphasis on profits as power and control in modern organizations shifts from the owners to professional managers and technocrats. This article reviews the managerial revolution hypothesis and concludes that attempts to dismiss it outright are premature.

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Section: Do Managers Serve Themselves or Owners?mentioning

confidence: 88%

Corporate News Structure and the Managerial Revolution

Demers¹,

Merskin²

2000

Journal of Media Economics

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“…To illustrate with the effect of ownership concentration on the corporate performance, the effect has contradicting conclusions from former studies. While Shleifer and Vishny (1986) and Ødegaard (2003) found positive effect of high concentration; Hindley (1970), and Fama and Jensen (1983) found the effect to be negative. Furthermore studies related to owner identities and firm performance also have contradicting conclusions.…”

Section: Introductionmentioning

confidence: 96%

A Study on Ownership Structure and Financial Performance of Listed Beverage Food and Tobacco Companies in Sri Lanka

Balagobei

Velnampy²

2017

ijafr

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The relevant literature suggests that ownership structure is one of the main corporate governance mechanisms influencing the scope of financial performance. The aim of this study is to investigate the relationship between ownership structure and financial performance of listed beverage food and tobacco companies for the period of 2010-2015. This study also examines the impact of ownership structure on financial performance. The sample consists of 10 listed beverage food and tobacco companies in Sri Lanka. In this study, data was collected from secondary sources and hypotheses are examined by using Pearson"s correlation and regression analysis. The results reveal that ownership concentration and foreign ownership structure are positively correlated with financial performance of listed beverage food and tobacco companies while institutional ownership structure isn"t significantly correlated with financial performance. It is also found that there is a significant impact of foreign ownership structure on financial performance. Higher the foreign ownership structure in listed beverage food and tobacco companies, the higher the financial performance which is preferable for the shareholders and it improves the wealth of companies.

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“…16. See Kamerschen [1968Kamerschen [ , 1969Kamerschen [ , 1973, Lamer [1970], Sorenson [1974], Demsetz [1974], and Hindley [1970]. Confirmation of the managerial thesis, on the other hand, is suggested by Monsen, Chiu, and Cooley [1968] and Palmer [1973Palmer [ , 1975.…”

Section: Resultsmentioning

confidence: 99%

The New Inflation

Reese¹

1977

Journal of Economic Issues

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Separation of Ownership and Control in the Modern Corporation

Cited by 71 publications

References 0 publications

Corporate News Structure and the Managerial Revolution

Corporate News Structure and the Managerial Revolution

A Study on Ownership Structure and Financial Performance of Listed Beverage Food and Tobacco Companies in Sri Lanka

The New Inflation

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