Paper Title
Exploring the Impact of Foreign Ownership and Ownership Concentration on Firm Performance: Evidence from Indian Manufacturing Firms
Article Identifiers
Registration ID: IJNRD_209993
Published ID: IJNRD2311386
: http://doi.one/10.1729/Journal.37052
About Hard Copy and Transparent Peer Review Report
Authors
Keywords
Foreign ownership, Ownership Concentration, Tobin’s Q, Return on Assets, Herfindahl Index, Return on Equity.
Abstract
The dynamics of international business have changed significantly. The phenomena of foreign ownership and ownership concentration have taken centre stage in today's corporate environment. The subject of how foreign ownership and ownership concentration affect firm performance has emerged as a crucial problem as corporations look for opportunities outside of their national borders. This study intends to investigate the relationship among foreign ownership, ownership concentration with firm performance. For measuring firm performance market based measure i.e. Tobin’s Q and accounting based i.e. ROA & ROE is used. Foreign ownership is characterized by the percentage of shares held by foreign promoters. Herfindahl Index (HHI) is used for ownership concentration. The companies are selected form NSE 100 index and data is gathered from the Annual Statements and PROWESS IQ database for the total of 7 years. Dynamic Panel Data is used in the study and analysed using GMM estimates. After controlling endogeneity issue, result shows positive impact of Foreign ownership on Tobin’s Q and ROE on firm performance where as negative impact on ROA. On the other hand Ownership Concentration show positive impact on Tobin’s Q and ROE where as negative impact on ROA.
Downloads
How To Cite (APA)
Nidhi Gupta & Prashantu Mer (November-2023). Exploring the Impact of Foreign Ownership and Ownership Concentration on Firm Performance: Evidence from Indian Manufacturing Firms. INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT, 8(11), d779-d786. http://doi.one/10.1729/Journal.37052
Issue
Volume 8 Issue 11, November-2023
Pages : d779-d786
Other Publication Details
Paper Reg. ID: IJNRD_209993
Published Paper Id: IJNRD2311386
Research Area: Commerce
Author Type: Indian Author
Country: Varanasi, Uttar Pradesh, India
Published Paper PDF: https://ijnrd.org/papers/IJNRD2311386.pdf
Published Paper URL: https://ijnrd.org/viewpaperforall?paper=IJNRD2311386
Crossref DOI: http://doi.one/10.1729/Journal.37052
About Publisher
Journal Name: INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT(IJNRD)
UGC CARE JOURNAL PUBLICATION | ISSN: 2456-4184 | IMPACT FACTOR: 8.76 Calculated By Google Scholar | ESTD YEAR: 2016
An International UGC CARE JOURNAL PUBLICATION, Low Cost, Scholarly Open Access, Peer-Reviewed, Refereed Journal Impact Factor 8.76 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator
Publisher: IJNRD (IJ Publication) Janvi Wave | IJNRD.ORG | IJNRD.COM | IJPUB.ORG
Copyright & License
© 2026 - Authors hold the copyright of this article. This work is licensed under a Creative Commons Attribution 4.0 International License. and The Open Definition.
This article is distributed under the terms of the Creative Commons Attribution 4.0 International License (CC BY 4.0).
🛡️ Disclaimer: The content, data, and findings in this article are based on the authors’ research and have been peer-reviewed for academic purposes only. Readers are advised to verify all information before practical or commercial use.
The journal and its editorial board are not liable for any errors, losses, or consequences arising from its use.
Publication Timeline
Article Preview: View Full Paper
Call For Paper
IJNRD is a Scholarly Open Access, Peer-Reviewed, Refereed, and UGC CARE Journal Publication with a High Impact Factor of 8.76 (calculated by Google Scholar & Semantic Scholar | AI-Powered Research Tool). It is a Multidisciplinary, Monthly, Low-Cost, and Transparent Peer Review Journal Publication that adheres to the New UGC CARE Transparent Peer-Reviewed Journal Policy and aligns with Scopus Journal Publication standards to ensure the highest level of research quality and credibility.
IJNRD offers comprehensive Journal Publication Services including indexing in all major databases and metadata repositories, Digital Object Identifier (Crossref DOI) assignment for each published article with additional fees, citation generation tools, and full Open Access visibility to enhance global research reach and citation impact.
The INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT (IJNRD) aims to advance applied, theoretical, and experimental research across diverse academic and professional fields. The journal promotes global knowledge exchange among researchers, developers, academicians, engineers, and practitioners, serving as a trusted platform for innovative, peer-reviewed journal publication and scientific collaboration.
Indexing Coverage: Google Scholar, SSRN, ResearcherID-Publons, Semantic Scholar (AI-Powered Research Tool), Microsoft Academic, Academia.edu, arXiv.org, ResearchGate, CiteSeerX, ResearcherID (Thomson Reuters), Mendeley, DocStoc, ISSUU, Scribd, and many other recognized academic repositories.
Transparent Peer Review Journal Publication: IJNRD operates a strict double-blind peer review system managed by 3000+ expert reviewers, ensuring ethical, unbiased, and high-quality review for every research paper.
For Indian Authors : Get a transparent peer review report from Scholar9.com for just ₹1000. View Sample Report
For Foreign Authors : A detailed peer review report is available through Scholar9.com for $20 USD. View Sample Report
Transparent Peer Review Journal Publication
⭐ Transparent Peer Review | 🕵️♂️ Double-Blind | 👨🏫 3000+ Expert Reviewers | 🇮🇳 Report for India Author ₹1000 | 🌐 Report for Foreign Author $20 | 📄 Sample Reports on Scholar9.com | 🌍 High Credibility | ⚖️ Ethical & Unbiased Evaluation
How to submit the paper?
By Our website
Click Here to Submit Paper Online
Recently, the UGC discontinued the UGC-CARE Journal List and introduced new parameters that allow publication in Transparent Peer-Reviewed (Refereed) Journals. IJNRD is Transparent Peer Review Journal Valid As per New UGC Notification.
You can now publish your research paper in IJNRD.ORG. IJNRD is a Transparent Peer-Reviewed Open Access (Refereed Journal), UGC and UGC CARE Approved, Crossref DOI, Multidisciplinary, Impact Factor calculate by Google Scholar. As an International, open-access, and online journal, Publishing with us ensures wider reach, academic credibility, and enhanced recognition for your work.
For more details, refer to the official notice: UGC Public Notice
⭐ Low Cost ₹1570 | 📚 UGC CARE Approved | 🔍 Peer-Reviewed | 🌐 Open Access | 🔗 Crossref DOI & Global Indexing | 📊 Google Scholar Impact Factor | 🧪 Multidisciplinary
Submit Paper Online Call for Paper About IJNRD UGC CARE Approval
Important Dates for Current issue
Paper Submission Open For: June 2026
Current Issue: Volume 11 | Issue 6 | June 2026
Impact Factor: 8.76
Last Date for Paper Submission: Till 30-Jun-2026
Notification of Review Result: Transparent peer review process - your paper is evaluated by experts, and you receive acceptance or rejection updates via email and SMS.
Publication of Paper: Once all documents are submitted, your paper is published without delay, and you can instantly download your certificate and confirmation letter online.
Frequency: Monthly (12 issue Annually).
Journal Type: IJNRD is an international open-access journal offering Low Cost Journal Publication, transparent Peer Review Journal Publication, Crossref DOI, and multidisciplinary research visibility under UGC CARE Approved Journal Publication.
Subject Category: Research Area
Approval, Licenses and Indexing: More Details
Call For Paper - Volume 11 | Issue 6 | June 2026
IJNRD.org offers low-cost journal publication starting at ₹1570 with UGC CARE Approved, refereed, peer-reviewed, open-access publishing. This multidisciplinary monthly journal, available in both online and print formats, features a strong Google Scholar-based impact factor of 8.76, Transparent Peer Review, CrossRef DOI, global indexing, fast publication, and complete metadata for maximum research visibility and citation impact across multidisciplinary domains.
Volume 11 | Issue 6 | June 2026 | IJNRD Transparent Peer Review Certificate | Submit Paper Online
⭐ UGC CARE Approved Refereed Journal | 🔍 Transparent Peer Review | 🌐 Open Access Publishing | 💰 Low-Cost ₹1570 | 🔗 CrossRef DOI & Global Indexing | 📊 Google Scholar Impact Factor 8.76 | 🧪 Multidisciplinary | Online & Print
Submit Paper Online
