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Ownership Concentration and Performance in Ukraine's Privatized Enterprises

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  • Alexander Pivovarsky

    (International Monetary Fund)

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    Abstract

    This article investigates empirically the relationship between ownership concentration and performance in 376 partially and fully privatized Ukrainian enterprises. It finds that ownership concentration is positively associated with enterprise performance in Ukraine. The article also finds that concentration of ownership by foreign companies and banks is associated with better performance than ownership concentrated by the domestic owners. Ownership by Ukrainian investment funds and holding companies does not have a positive effect on performance. The article documents that, in contrast to predictions by many observers of early transition, privatization methods determined the long-term ownership structure of privatized firms. Copyright 2003, International Monetary Fund

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    Bibliographic Info

    Article provided by Palgrave Macmillan in its journal IMF Staff Papers.

    Volume (Year): 50 (2003)
    Issue (Month): 1 ()
    Pages: 2

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    Handle: RePEc:pal:imfstp:v:50:y:2003:i:1:p:2

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    Cited by:
    1. Estrin, Saul & Hanousek, Jan & Svejnar, Jan, 2009. "Effects of Privatization and Ownership in Transition Economies," Policy Research Working Paper Series, The World Bank 4811, The World Bank.
    2. Atanasov, Vladimir, 2005. "How much value can blockholders tunnel? Evidence from the Bulgarian mass privatization auctions," Journal of Financial Economics, Elsevier, Elsevier, vol. 76(1), pages 191-234, April.
    3. Christian Espinosa & Carlos Maquieira, 2010. "Diversificación y Desempeño en Sud América: Evidencia para Chile," Working Papers, Facultad de Economía y Empresa, Universidad Diego Portales 10, Facultad de Economía y Empresa, Universidad Diego Portales.
    4. Jan Hanousek & Evžen Kočenda & Michal Mašika, 2012. "Corporate Efficiency: Effect of Ownership Structures and Financial Indicators," Politická ekonomie, University of Economics, Prague, University of Economics, Prague, vol. 2012(4), pages 459-483.
    5. Saul Estrin & Jan Hanousek & Evzen Kocenda & Jan Svejnar, 2009. "The Effects of Privatization and Ownership in Transition Economies," Journal of Economic Literature, American Economic Association, American Economic Association, vol. 47(3), pages 699-728, September.
    6. World Bank, 2009. "Good Governance in Public-Private Partnerships : A Resource Guide for Practitioners," World Bank Other Operational Studies 12665, The World Bank.
    7. Fabian Gouret, 2003. "Méthodes de privatisation et évolution de l'output dans les économies en transition," Cahiers de la Maison des Sciences Economiques, Université Panthéon-Sorbonne (Paris 1) j04028, Université Panthéon-Sorbonne (Paris 1).

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