The current study aims at providing empirical evidence concerning the relationship between the ownership structure and performance of the shareholding companies listed on the Amman Stock Exchange (ASE). To measure the ownership structure, used institutional and block holders ownership. The performance is measured by using Tobin’s Q (TQ). This study also used a moderating variable which is board independence. To achieve the objectives of the study, this study used the panel data method to analyze data for a sample of 180 companies listed on Amman Stock Exchange (ASE) for the period from 2009 to 2017. The findings show that the ownership structure mechanisms have a significant influence on firm performance measure by (TQ). So, institutional ownership shows a significant positive relationship with (TQ), however, the findings show block holders ownership have a significant negative relationship with (TQ). On another hand, the moderating effect of board independence has a significant positive on the relationship between block holders ownership and (TQ) and has a significant negative on the relationship between institutional ownership and (TQ). The findings of this study confirm empirical research continuing to find a new performance measurement to gain a real form of firm performance. Therefore, the evidence of this study provides empirical evidence to stakeholders, managers and interested parties to support them for its decision.
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In-Text Citation: (Dakhlallh, Rashid, Abdullah, & Dakhlallh, 2019)
To Cite this Article: Dakhlallh, M. M., Rashid, N. M. N. M., Abdullah, W. A. W., & Dakhlallh, A. M. (2019). The Effect of Ownership Structure on Firm Performance among Jordanian Public Shareholders Companies: Board Independence as a Moderating Variable. International Journal of Academic Research in Progressive Education and Development, 8(3), 13–31.
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