An Empirical Study Of The Relation Between Ownership Structure And Corporate Growth: Evidence From Publicly Listed Small And Medium Enterprises

This study examines the relation between ownership structure andcorporate grown using a sample of180publicly listed small and mediumfirms of China. The author analyzes14measures of corporate growth andapplies principal component analysis to capture4important dimensions ofcorporate growth. The results of regression models indicate that ownershipconcentration and corporate growth are not associated. However, forstate-owned enterprises, the ownership of the largest shareholder ispositively associated with corporate growth, whereas for non-state firms,this association is negative. These findings have implications for investorsand policy makers.