Performance of czech voucher-privatized firms

Evžen Kočenda

Prague Economic Papers, 2003, vol. 2003, issue 2, 121-130

Abstract: This paper works with a broad data sample of Czech voucher-privatized firms. The period of 1996 - 1999 enables to capture true post-privatization effects. It analyzes the effect of ownership structure on corporate performance and firm's characteristics. Results show that overall ownership concentration cannot be associated with improving corporate performance. Further, particular types of domestic owners do not affect firm's performance but they do affect firm's characteristics. Effect of foreign owners is limited. No clear or unambiguous effect of changes in ownership structure on corporate performance emerged.

Keywords: voucher privatization; ownership structure; type of owner; panel data; firm's performance (search for similar items in EconPapers)
JEL-codes: C23 D21 G32 L20 (search for similar items in EconPapers)
Date: 2003
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Citations: View citations in EconPapers (7)

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DOI: 10.18267/j.pep.209

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