Firm valuation, performance and origin of controlling shareholder in Brazil
Open Access
- 1 January 2015
- journal article
- Published by Virtus Interpress in Corporate Ownership and Control
- Vol. 12 (4), 535-540
- https://doi.org/10.22495/cocv12i4c5p3
Abstract
This study analyzes if the origin of the controlling shareholder influences firm value and performance in Brazil. Although there is a vast literature on this topic, the results vary significantly and, in some cases, are even inconclusive. Our analysis of 407 Brazilian companies from 2002 to 2009 provide evidence that firms controlled by families and government have lower valuation. There is no significant relation between origin of control and firm performance.Keywords
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