Kapopoulos, Panayotis; Lazaretou, Sophia - Bank of Greece - 2006
The Berle-Means thesis (1932) implies that diffuse ownership adversely affects firm performance. This paper tries to … result in systematic variations in observed firm performance. We test this hypothesis by assessing the impact of the … structure of ownership on corporate performance, measured by profitability, using data for 175 Greek listed firms. Following …