Firm Growth in Advanced Stages of Economic Transition: Evidence from Slovak Industry
AbstractThis article analyzes the reaction of firms to transition in adjusting firm size. The author offers an empirical analysis in the context of the firm-growth model with emphasis on the presence of ownership and corporate-structure effects.There is no evidence for a general firm-growth/firm-size relationship. On the other hand, the author finds evidence that firm growth is a function of size for firms of a particular type. Specifically, there is an inverse growth-size relationship for privately owned joint-stock companies. Examining the character of these effects, the author concludes that their character is transitory: It corresponds to events related to exogenous settings of economic privatization and the economic restructuring process rather than tangible ownership or corporate-governance effects.
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Bibliographic InfoArticle provided by Charles University Prague, Faculty of Social Sciences in its journal Finance a uver - Czech Journal of Economics and Finance.
Volume (Year): 54 (2004)
Issue (Month): 9-10 (September)
firm growth; firms; transition; ownership; industry; Slovak Republic;
Find related papers by JEL classification:
- P31 - Economic Systems - - Socialist Institutions and Their Transitions - - - Socialist Enterprises and Their Transitions
- D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
- L0 - Industrial Organization - - General
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