Propriété étrangère, investissement et performance des entreprises en Afrique : Cas du Cameroun

Abstract : 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.
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https://hal-univ-tlse2.archives-ouvertes.fr/hal-02309599
Contributor : Stefano Ugolini <>
Submitted on : Wednesday, October 9, 2019 - 1:57:50 PM
Last modification on : Thursday, October 17, 2019 - 8:51:21 AM

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Cyrille-Michel-Bertrand Onomo, Marius Ayou Bene, François-Seck Fall. Propriété étrangère, investissement et performance des entreprises en Afrique : Cas du Cameroun. Management international = International management = Gestión internacional, HEC Montréal et Université Paris Dauphine, 2018. ⟨hal-02309599⟩

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