The Effect of Ownership Structure on Corporate Performance of Listed Companies in Tehran Stock Exchange: An Empirical Evidence of Iran
Mehrdad Alipour, Hossein Amjadi

Abstract
This research has investigated the effect of ownership structure on performance of listed companies in Tehran Stock Exchange. The research hypotheses are based on the type of relationship between ownership structure and corporate performance. To test each hypothesis, four models defined based on dependent variables. The sample is consisted of 68 companies during the years 1384 (April 2006) to 1388 (March 20, 2010). Statistical method used in this research was panel data. Findings indicate that there is significant and negative relationship between "the amount of ownership of biggest shareholder" and firm performance. There is a positive and significant relation between "the amount of ownership of five greater shareholders" and firm performance. The relationship between "the amount of ownership of institutional shareholders" and "the amount of ownership of managerial shareholders" and "the amount of ownership of individual shareholders" is significant and negative.

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