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Foreign Portfolio Investment Improves Performance: Evidence from the Czech Republic

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Author Info
Andrew Weiss (Boston University)
Georgiy Nikitin (Boston University)

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Abstract

When foreigners became the major shareholders of publicly traded firms in the Czech Republic, those firms experienced improvements in performance and increases in investment. In contrast, controlling for ownership type, ownership concentration had no independent effect on performance or investment. The results are robust to the estimation technique used, the choice of independent variables, and the methods used to control for selection bias.

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Publisher Info
Article provided by Berkeley Electronic Press in its journal Topics in Economic Analysis & Policy.

Volume (Year): 4 (2004)
Issue (Month): 1 ()
Pages: 1205-1205
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Handle: RePEc:bep:eaptop:v:4:y:2004:i:1:p:1205-1205

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Related research
Keywords: Transition Economies Foreign Ownership and Control Portfolio Investment Ownership Concentration Long Differences

Find related papers by JEL classification:
C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data

References listed on IDEAS
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    Other versions:
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    Other versions:
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    Other versions:
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    Other versions:
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    Other versions:
  19. Georgiy Nikitin & Andrew Weiss, . "Effects of Ownership Composition on Performance: Evidence from the Czech Republic," Boston University - Department of Economics - The Institute for Economic Development Working Papers Series dp-116, Boston University - Department of Economics, revised Dec 2001. [Downloadable!]
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