This study investigates the effect of corporate governance reforms protecting minority shareholders on the firm value … countries. The evidence is robust to accounting-based performance as well. …

relationship between the agency cost and firm performance. Both the fixed-effects model and a more robust dynamic panel generalized … agency-performance relationship is positively moderated by (1) corporate governance quality, (2) ownership concentration, and … (3) non-state ownership. State ownership has a negative effect on the agency–performance relationship. Various robust …

shareholders and negatively impacts a firm’s performance. The study also remains robust after accounting for potential endogeneity … investigate the relationship between hidden ownership and firm performance. The findings indicate that hidden ownership affects a … firm’s performance, but not in the same manner as previously thought. Firms with hidden ownership actually perform better …