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Large Shareholders and Profitability of Telecommunication Firms in Eastern Europe and the Black Sea Region

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Advances in Cross-Section Data Methods in Applied Economic Research (ICOAE 2019)

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Abstract

This paper examines the relationship between the performance of the firm and ownership structure in the telecommunication companies of Eastern Europe and the Black Sea region. More specifically we focus on the ownership percentage the large shareholder of the company owns and its effect on profitability measures of performance (ROA and ROE) of the firms. A balanced panel is used for 14 telecommunication companies from 11 countries of the region is used for the period 2012–2015. Our results indicate the existence of a non-linear relationship between large shareholder ownership and performance, suggesting the existence of agency problems.

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Author information

Authors and Affiliations

  1. Department of Regional Development and Cross Border Studies, University of Western Macedonia, Kozani, Greece

    Ioannis Antoniadis

  2. Hellenic Telecommunications Organization, Kozani, Greece

    Theodoros Parganas

  3. Department of Administrative Science and Technology, University of Western Macedonia, Kozani, Greece

    Kontstantinos Spinthiropoulos

Authors
  1. Ioannis Antoniadis
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  2. Theodoros Parganas
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  3. Kontstantinos Spinthiropoulos
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Corresponding author

Correspondence to Ioannis Antoniadis .

Editor information

Editors and Affiliations

  1. Department of Economics, University of Western Macedonia, Kastoria, Greece

    Nicholas Tsounis

  2. Department of Economics, University of Western Macedonia, Kastoria, Greece

    Aspasia Vlachvei

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Antoniadis, I., Parganas, T., Spinthiropoulos, K. (2020). Large Shareholders and Profitability of Telecommunication Firms in Eastern Europe and the Black Sea Region. In: Tsounis, N., Vlachvei, A. (eds) Advances in Cross-Section Data Methods in Applied Economic Research. ICOAE 2019. Springer Proceedings in Business and Economics. Springer, Cham. https://doi.org/10.1007/978-3-030-38253-7_40

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