Notice of RetractionEmpirical Research on the Relationship between Shareholding Concentration and Firm Value under Family Governance: Evidence from Family Owned Listed Companies in Zhejiang Province

Notice of Retraction

After careful and considered review of the content of this paper by a duly constituted expert committee, this paper has been found to be in violation of IEEE´s Publication Principles.

We hereby retract the content of this paper. Reasonable effort should be made to remove all past references to this paper.

The presenting author of this paper has the option to appeal this decision by contacting TPII@ieee.org.

There are various or even contradictory conclusions about the relationships between enterprises´ shareholding concentration ratio and firm value: positive correlation, negative correlation, inverted U-shaped, or no relationship. These disagreements make this proposition attract more and more attention. However, there are few studies on the relationship under family governance. This paper investigates the annual reports in 2007 of family owned listed companies in Zhejiang province, using statistical regression method to analyze the relationship between shareholding concentration ratio and firm value. The result displays inverted U-shaped relationship between these two, which would provide some suggestions to the structural adjustment of family business governance.