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Foreign Portfolio Investment Improves Performance: Evidence from the Czech Republic

Author

Listed:
  • Weiss Andrew

    (Boston University)

  • Nikitin Georgiy A

    (Boston University)

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.

Suggested Citation

  • Weiss Andrew & Nikitin Georgiy A, 2004. "Foreign Portfolio Investment Improves Performance: Evidence from the Czech Republic," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 4(1), pages 1-49, June.
    • Handle: RePEc:bpj:bejeap:v:topics.4:y:2004:i:1:n:15
    DOI: 10.2202/1538-0653.1205
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    Cited by:

    1. Elisa Galeotti, 2009. "Do Domestic Firms Benefit from Geographical Proximity with Foreign Investors? Evidence from the Privatization of the Czech Glass Industry," Czech Economic Review, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, vol. 3(1), pages 026-047, March.
    2. Elisa Galeotti & Eva Ryšavá, 2008. "The endogeneity problem and fdi in transition: evidence from the privatized glass sector in the Czech Republic," Prague Economic Papers, Prague University of Economics and Business, vol. 2008(4), pages 319-339.
    3. Chanchal Chatterjee & Tirthankar Nag, 2015. "Board Composition and Financial Performance," South Asian Survey, , vol. 22(2), pages 127-135, September.
    4. Stringham, Edward & Boettke, Peter & Clark, J.R., 2008. "Are regulations the answer for emerging stock markets? Evidence from the Czech Republic and Poland," The Quarterly Review of Economics and Finance, Elsevier, vol. 48(3), pages 541-566, August.

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