Abstract
This study examined the relationship between institutional ownership and firm performance in the casino industry from 1999–2003. Given the evidence of the endogeneity of institutional ownership in the casino industry, institutional ownership was found to be a significant and positive determinant of casino firm performance as measured by a proxy for Tobin's Q in a simultaneous equations system. This study reveals that investing institutionally in casino firms may help casino industry investors mitigate the agency problem caused by the separation of management from ownership. In addition, financial institutions tend to invest in larger casino firms with lower financial leverage.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
