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The impact of institutional ownership on firm performance in the hospitality industry.


Institutional investors have become important players in today's financial markets and their increasing importance in corporate governance in the United States (U.S.) is further evidenced by the growing volume of corporate equity they control. The ownership structure/firm performance relationship has always been a subject of debate. Similarly, in the hospitality industry as of June 2002, institutional investors were estimated to own $2.3 billion, or 66.7% of total outstanding shares in PricewaterhouseCoopers' lodging universe.