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The Business Sector, Firm Age, and Performance: The Mediating Role of Foreign Ownership and Financial Leverage

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Management and Business Administration, School of Economic and Regional Sciences, Szent István University, 2100 Godollo, Hungary
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Management Science, School of Business, University of Nairobi, University Way, P.O. Box 30197-00100, Nairobi, Kenya
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Finance Management and Control, Institute of Business Sciences and Internal Control, Szent István Egyetem, 2100 Godollo, Hungary
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Author to whom correspondence should be addressed.
Int. J. Financial Stud. 2020, 8(4), 79; https://0-doi-org.brum.beds.ac.uk/10.3390/ijfs8040079
Received: 26 October 2020 / Revised: 8 December 2020 / Accepted: 11 December 2020 / Published: 17 December 2020
The paper explores the business sector and firm age effects on firm performance mediated by foreign ownership levels in domestic firms and financial leverage by examining 146 Medium Enterprises (MEs). The results show that except for ownership, the business sector, firm age, foreign ownership level, and financial leverage significantly influence performance. Foreign ownership substantially mediates the correlation between firm age and performance but not leverage. Both foreign ownership and leverage have no substantial mediating effect on the relationship between the business sector and financial performance. Moreover, the findings reveal business sectors whose performance is statistically different from zero based on the referent group. View Full-Text
Keywords: business sector; firm age; leverage; foreign ownership; ownership; medium enterprises; firm performance business sector; firm age; leverage; foreign ownership; ownership; medium enterprises; firm performance
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MDPI and ACS Style

Mallinguh, E.; Wasike, C.; Zoltan, Z. The Business Sector, Firm Age, and Performance: The Mediating Role of Foreign Ownership and Financial Leverage. Int. J. Financial Stud. 2020, 8, 79. https://0-doi-org.brum.beds.ac.uk/10.3390/ijfs8040079

AMA Style

Mallinguh E, Wasike C, Zoltan Z. The Business Sector, Firm Age, and Performance: The Mediating Role of Foreign Ownership and Financial Leverage. International Journal of Financial Studies. 2020; 8(4):79. https://0-doi-org.brum.beds.ac.uk/10.3390/ijfs8040079

Chicago/Turabian Style

Mallinguh, Edmund, Christopher Wasike, and Zeman Zoltan. 2020. "The Business Sector, Firm Age, and Performance: The Mediating Role of Foreign Ownership and Financial Leverage" International Journal of Financial Studies 8, no. 4: 79. https://0-doi-org.brum.beds.ac.uk/10.3390/ijfs8040079

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