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2018
- handle: 10670/1.25zvgq
- hal: hal-02309599
Mots-clés
Foreign ownership Investment Financial performanceSujets proches
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Cyrille-Michel-Bertrand Onomo et al., « Propriété étrangère, investissement et performance des entreprises en Afrique : Cas du Cameroun », HAL-SHS : économie et finance, ID : 10670/1.25zvgq
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Résumé
This paper analyzes the relationship between foreign ownership, investment and firms performance in a Sub-Saharan context, based on a sample of 168 Cameroonian firms in the period 2007-2009. To control for the endogeneity issue revealed by our analysis, we estimate a simultaneous equations model that is known to give more robust results than usual models. We find that foreign ownership has a negative effect on firm’s assets return, while positively related to investment. However, the results show a non-linear relationship: when foreign equity is above 25%, foreign ownership is positively related to assets return, and negatively related to investment.