Ownership structure of publicly traded newspaper companies and their financial performance

Soontae An, Seung Jin Hyun, Todd Simon

Research output: Contribution to journalArticlepeer-review

14 Scopus citations

Abstract

This study examined the effects of ownership structure on the financial performance of publicly traded newspaper companies. The results showed that the level of institutional ownership in a year was negatively associated with the subsequent year's profitability, as measured by return on equity and return on assets. Increased insider ownership in a given year was followed by decreased debt-to-equity ratio in the next year. Agency theory and financial control theory were discussed.

Original languageEnglish
Pages (from-to)119-136
Number of pages18
JournalJournal of Media Economics
Volume19
Issue number2
DOIs
StatePublished - 2006

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