Ownership Concentration and Performance in Ukraine's Privatized Enterprises

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Ownership Concentration and Performance in Ukraine's Privatized Enterprises

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Alexander Pivovarsky (International Monetary Fund)

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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Article provided by Palgrave Macmillan Journals 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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Related research
Keywords:

Find related papers by JEL classification:
G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Capital and Ownership Structure
G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation
L33 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Boundaries of Public and Private Enterprise; Privatization; Contracting Out
P31 - Economic Systems - - Socialist Institutions and Their Transitions - - - Socialist Enterprises and Their Transitions

Cited by:
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Galyna Grygorenko & Stefan Lutz, 2007. "Firm Performance and Privatization in Ukraine," The School of Economics Discussion Paper Series 0704, Economics, The University of Manchester. [Downloadable!]
Other versions:
- Galyna Grygorenko & Stefan Lutz, 2007. "Firm performance and privatization in Ukraine," Economic Change and Restructuring, Springer, vol. 40(3), pages 253-266, September. [Downloadable!] (restricted)
Fabian Gouret, 2003. "Méthodes de privatisation et évolution de l'output dans les économies en transition," Cahiers de la Maison des Sciences Economiques j04028, Université Panthéon-Sorbonne (Paris 1). [Downloadable!]

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This page was last updated on 2009-11-30.

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