Does Privatization Improve Firm Performance?: A Systematic Review of the Transition Literature

Satoshi Mizobata () and Ichiro Iwasaki

Economic Review, 2016, vol. 67, issue 4, 354-380

Abstract: At the core of studies on the post-communist transition economies is the privatization problem in Eastern Europe and the former Soviet Union. There is a large literature on the effects of post-privatization ownership on firm performance. Their empirical results, however, are far from clear and confused to some extent due to the significant differences in specificities of transition countries/regions, estimation period, and other research constraints. In this paper, the authors conduct a systematic review of the relevant literature to assess various kinds of conclusions regarding the relationship between ownership structure and performance in privatized enterprises as a whole. We found that the effect size and statistical significance of foreign ownership greatly exceed those of the state and domestic private owners. We also found that the privatization method has a considerable impact on the effort level of corporate owners.

JEL-codes: D22 G32 G34 L25 P21 P31 (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:hit:ecorev:v:67:y:2016:i:4:p:354-380

DOI: 10.15057/28206

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