Does public ownership affect business performance? Empirical evidence with panel data from the Spanish manufacturing sector

Pablo Hernández de Cos, Isabel Argimon () and José González-Páramo
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Pablo Hernández de Cos: Banco de España
José González-Páramo: Universidad Complutense

No 19, Working Papers from Banco de España

Abstract: This paper offers empirical evidence for the Spanish case on the hypothesis that public ownership may be a determinant of a firm's performance. Two alternative definitions of efficiency are proposed: relative productivity and profitability. The role of ownership is tested, conditioning for the degree of competition, the financial position of the firm and labour quality. The data used is a sample of Spanish manufacturing firms for the period 1983-1996. The results show that ownership is not a determinant of efficiency and that other factors, in particular, the degree of competition, seem to have a positive and significant effect on a firm's performance.

Keywords: competition; efficiency; productivity (search for similar items in EconPapers)
JEL-codes: G3 H32 L2 (search for similar items in EconPapers)
Pages: 55 pages
Date: 2000
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:bde:wpaper:0019

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