股权结果与公司绩效一个描述性探讨外文翻译.docVIP

外文题目： Ownership Structure,Corporate Performance And Failure:Evidence From Panel Data of Emerging Market The Case of Jordan 出 处： Corporate Ownership Control 作 者： Rami Zeitun 原文： 2. Ownership Structure and Firm Performance: a Descriptive Discussion 2.1 Ownership Structure (Mix) and Firm Performance Since the establishment of the ASE in the 1970s，the number of listed companies，trading volume，and total market capitalisation have increased drastically．Table 1 reports the ownership structure of listed companies by sectors．Despite its privatisation program，the government still holds a large stake in Media，Utility and Energy，and Steel，Mining and Heavy Engineering companies (43.20%，33.70 %，and 22.04 %，respectively) because they are considered strategic industries．Institutional ownership is very high in transportation，real estate，and trade and commercial services and rental，and communication (44.80%，44.00%，and 36.89%，respectively)．Individual citizens as a group are the largest shareholder of Educational Services，Medical Pharmacies，Textiles and Clothing，and Construction and Engineering．The largest foreign ownership stakes are in Steel，Mining and Heavy Engineering，followed by Tobacco (16.05% and 13.41%，respectively)，foreign ownership is also high in the Insurance sector． Table 2 presents the basic statistics of the ownership structure for defaulted and non-defaulted firms．The individual (citizen) owns an average of 51.42 percent of defaulted firms，a figure which is larger than 45.36 percent in non-defaulted firms．The fractions of government and foreigner ownership have their lowest median in the defaulted firms，0.58 and 1.21 percent respectively，compared with 2.37 and 4.20 percent in non-defaulted firms for government and foreigner respectively． There are several notable differences．First of all，defaulted firms have a lower median of government ownership．Also，the median of institutional owners