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Competition and Corporate Governance: Substitutes or Complements ? Evidence from the Warsaw Stock Exchange

Irena Grosfeld and Thierry Tressel ()

DELTA Working Papers from DELTA (Ecole normale supérieure)

Abstract: In this paper we analyse the impact of product market competition and ownership structure on corporate performance. We focus on the firms listed on the Warsaw Stock Exchange, which are either privatised or newly created firms. First, we study the separate effects of competition and ownership concentration on firm level productivity growth. Next, we investigate their interaction: are they substitutes or complements?

Keywords: MARKET; COMPETITION; OWNERSHIP (search for similar items in EconPapers)
JEL-codes: D24 G32 L1 P2 (search for similar items in EconPapers)
Pages: 30 pages
Date: 2001
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