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ABSTRACT
The study examined the effect of ownership structure on the financial performance of listed financial firms in Nigeria. Four hypotheses were tested using the generalized least squares estimator, and results showed that managerial ownership and concentrated ownership had a significant positive effect on financial performance while institutional ownership and foreign ownership did not have a significant effect. The study concluded that ownership structure with emphasis on managerial ownership and concentrated ownership has a significant effect on the financial performance of listed financial firms in Nigeria. Recommendations included allowing managers greater stake in firms and maintaining a significant concentration of ownership. Future research could consider extending the scope to include companies in other industries.
