Caught in financial distress has never been an objective of any company. Nevertheless, many companies collapsed due to controllable and uncontrollable factors. There is inconclusive evidence as to whether changes in ownership attributes improve firms' performance and therefore could reduce the likelihood of firms going through financial distress. This study attempts to understand whether type of ownership have significant relationship with companies that experienced financial distress. This

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... y is useful to directors who can evaluate the existence of these factors in their companies and to authorities who can use this study to measure the effectiveness of government linked institutional investors in preventing distress. 