Productivity effects of the ownership concentration in employee–owned companies

Agnieszka Matuszewska-Pierzynka ()
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Agnieszka Matuszewska-Pierzynka: University of Lodz Poland

No 73/2017, Working Papers from Institute of Economic Research

Abstract: Empirical research on the influence of the degree of ownership concentration in the employee–owned companies on their sales revenues thematically fits into the issue of efficiency of the direct privatisation method, in particular giving a state–owned enterprise for use against payment. The main goal of this article is to verify the research hypothesis stating that in employee–owned companies an increase in the degree of ownership concentration leads to an increase in sales revenues. In conducted empirical studies parameters of a Cobb–Douglas production function were estimated by Ordinary Least Squares method for two variants, differing in the way of measuring the degree of ownership concentration. The research hypothesis formulated in this paper was verified negatively as the increase in the degree of ownership concentration in employee–owned companies caused the decrease in their sales revenues.

Keywords: privatisation process; direct privatisation; employee–owned company; productivity; ownership structure (search for similar items in EconPapers)
JEL-codes: D24 G32 L33 (search for similar items in EconPapers)
Date: 2017-05, Revised 2017-05
New Economics Papers: this item is included in nep-dcm and nep-eff
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