Corporate control and its effect on company performance

This study investigates the effects that various ownership structures have on company performance. It is assumed that the ownership structure of the firm dictates the manner in which the firm monitors its managers. It is further assumed that the objective of the firm is to maximise shareholder wealth. The study therefore analyses which ownership structure provides shareholders with the greatest returns. Such a system would add the most to an economy's efficiency. It was concluded that of the three systems identified, not one system provided shareholders with a return significantly different from the others. The study added to the current South African debate as to whether or not the concentration of economic power detracts from the country's economic efficiency. Statistical evidence proves that companies owned by any of the large South African groupings are no less productive than companies otherwise owned.

Grantor dc:publisher.institution

Department of Finance and Tax

Year dc:date.issued

1998

Author dc:creator

• Potash, Richard

Advisors dc:contributor.advisor

• Uliana, Enrico
• Botha, Derrick
• Wegner, Trevor

Language dc:language.iso

eng

Handle dc:identifier.uri

http://hdl.handle.net/11427/9957

OAI identifier oai:identifier

oai:open.uct.ac.za:11427/9957