EconPapers    
Economics at your fingertips  
 

Rozsah integrovaného státního vlastnictví a vliv firemní kontroly na výkonnost českých podniků

Extent of the Integrated State Ownership and Effect of the State Control on Performance of Czech Firms

Jan Hanousek () and Evzen Kocenda ()

Politická ekonomie, 2011, vol. 2011, issue 1, 82-104

Abstract: We analyze the extent of the integrated state control over the privatized companies in the Czech Republic during the decade of 1995-2005. During this period, the integrated potential of the state to control companies had a pyramid-like form. Even though the pyramid control was not fully utilized, the state owned the golden shares that significantly improved state ability to control companies. Our findings suggest that state control in the period under research is correlated with decreasing, or even negative performance of companies. The efficiency of the state-owned companies was much lower than that of the privately owned. The inability of state agencies to cooperate and inefficient state administration are the most probable explanations behind our findings.

Keywords: privatization; corporate performance; golden share; corporate pyramid; state ownership; voting rights (search for similar items in EconPapers)
JEL-codes: C51 D23 D24 L23 P26 (search for similar items in EconPapers)
Date: 2011
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3) Track citations by RSS feed

Downloads: (external link)
http://www.vse.cz/polek/download.php?jnl=polek&pdf=773.pdf
http://www.vse.cz/polek/773 (text/html)
free of charge

Related works:
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:prg:jnlpol:v:2011:y:2011:i:1:id:773:p:82-104

Ordering information: This journal article can be ordered from
Redakce Politické ekonomie, Vysoká škola ekonomická, nám. W. Churchilla 4, 130 67 Praha 3
http://www.vse.cz/polek/

Access Statistics for this article

Politická ekonomie is currently edited by Martin Mandel

More articles in Politická ekonomie from University of Economics, Prague Contact information at EDIRC.
Bibliographic data for series maintained by Frantisek Sokolovsky ().

 
Page updated 2019-10-13
Handle: RePEc:prg:jnlpol:v:2011:y:2011:i:1:id:773:p:82-104