... Indonesia, Malaysia, Singapore, South Korea, Taiwan and Thailand. We include firms that have sufficient ownership, stock returns, earnings and other financial data for empirical analysis. Below ... return and financial data We merge the ownership data with the PACAP electronic database, which is commercially distributed by the University of Rhode Island. PACAP contains the financial and ... positive and significant in Hong Kong, Malaysia, Taiwan and Thailand. From the year -by- year and economy -by- economy results, we find that the effects of the ownership variables are not concentrated...