The abstract does not mention the study’s main results, confirming the impact of ownership structure on firm performance. The study’s aim is well explicated. However, the abstract indicates a plethora of methods making the estimation process hard to understand from the first read. The title is informative. Likewise, most references used to build this article are recent.

Comments on introduction/background

The literature review on the interplay between the ownership structure and financial performance is well developed to this present stage. However, testing different contexts and different objects should be done to generalize results. This study’s research question is well explicated by the authors, using a logical redaction process to express the literature gap in Jordanian financial markets. With an appropriate hypothesis and writing structure, this article qualifies our tests.

Comments on methodology

The selection process is transparent. However, excluding the banking sector was not a great decision because of the significant presence of institutional ownership in that business field. The paper studies m 495 Polish non-financial firms listed on the WSE, which is a highly significant sample. Moreover, the collection process could suffer from collection bias, errors and typos. Thus, the collected data is away from being reliable for other studies. Overall, the study could not be replicated due to data lack, and missing details on regression estimations.

Comments on data and results

With a very transparent data presentation, others have provided an appropriate econometric procedure explaining the use of cointegration tests. However, the authors did not use a proper way to choose between GMM Difference and GMM System. The results are less significant, but it is tolerable in this research field; many factors other than ownership structure could impact a firm’s financial performance.

Comments on discussion and conclusions

The study is well discussed over the discussion section, with a direct statement of findings. The conclusions were clear, confirming the positive impact of ownership structure on listed companies' financial performance in the WSE market. These conclusions are supported by regression results on some references. However, the article does not provide any future research suggestions.