Ownership and Investment Behaviour in Transition Countries: A Case Study of Collective and Corporate Farms in the Czech Republic

Jarmila Curtiss, Tomáš Ratinger and Tomáš Medonos

No 121, Factor Markets Working Papers from Centre for European Policy Studies

Abstract: Cooperative and corporate farms have retained an important role for agricultural production in many transition countries of Central and Eastern Europe. Despite this importance, these farms' ownership structure, and particularly the ownership's effect on their investment activity, which is vital for efficient restructuring and the sector's future development, are still not well understood. This paper explores the ownership-investment relationship using data on Czech farms from 1997 to 2008. We allow for ownership-specific variability in farm investment behaviour analyzed by utilizing an errorcorrection accelerator model. Empirical results suggest significant differences in the level of investment activity, responsiveness to market signals, investment lumpiness, as well as investment sensitivity to financial variables among farms with different ownership characteristics. These differences imply that the internal structure of the Czech cooperative and corporate farms will be developing in the direction of a decreasing number of owners and an increasing ownership concentration.

Pages: 36 pages
Date: 2012-02
New Economics Papers: this item is included in nep-agr, nep-eur, nep-hme and nep-tra
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

Downloads: (external link)
http://www.factormarkets.eu/system/files/FM_WP17%2 ... arms%20in%20CR_0.pdf (application/pdf)
Our link check indicates that this URL is bad, the error code is: 500 Can't connect to www.factormarkets.eu:80 (This is usually a temporary error during hostname resolution and means that the local server did not receive a response from an authoritative server. )

Related works:
Working Paper: Ownership and Investment Behaviour in Transition Countries: A Case Study of Collective and Corporate Farms in the Czech Republic (2012)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eps:fmwppr:121

Access Statistics for this paper

More papers in Factor Markets Working Papers from Centre for European Policy Studies Contact information at EDIRC.
Bibliographic data for series maintained by Eleni Kaditi ().