Firm Performance and the Political Economy of Corporate Governance: Survey Evidence for Bulgaria, Hungary, Slovakia and Slovenia

Patrick Walsh () and Ciara Whelan

No 338, William Davidson Institute Working Papers Series from William Davidson Institute at the University of Michigan

Abstract: Using survey data for 220 traditional manufacturing firms over 7 years of transition and 4 CEE countries, we find firms that produced for the EU market under planning consistently outperform those that produced for the CMEA market. Within the previously CMEA market, the best firms were selected to outside privatisation and outperformed insider/state owned firms. Outside privatisation was resisted in EU oriented firms and ownership was found to have no effect on performance. We argue that insider/state ownership in previously CMEA and EU markets builds up political support for the market system during its initial stages, ensuring its long-term success.

Keywords: firm performance; political economy; privatisation and demand shocks (search for similar items in EconPapers)
JEL-codes: P52 (search for similar items in EconPapers)
Pages: pages
Date: 2000-07-01
New Economics Papers: this item is included in nep-eec and nep-pol
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (7)

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Related works:
Journal Article: Firm performance and the political economy of corporate governance: survey evidence for Bulgaria, Hungary, Slovakia and Slovenia (2001)
Working Paper: Firm performance and the political economy of corporate governance: survey evidence for Bulgaria, Hungary, Slovakia and Slovenia (2000)
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