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Firm performance and privatization in Ukraine

  • Galyna Grygorenko

    ()

  • Stefan Lutz

    ()

Investigating the effects of privatization in transition countries is the focus of a large body of current research. Generally, privatization stimulates private sector development, attracts foreign direct investment, fosters competition and contributes to the formation of stock markets. In addition, privatization may improve individual enterprises’ performance. This paper investigates the impact of privatization on Ukrainian firms’ productivity. The empirical research is based on a sample of 466 Ukrainian joint-stock enterprises for the period of 1997 – 1999. Estimation results indicate that privatization positively influences labor productivity, but also that these effects diminish over time.

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File URL: http://hdl.handle.net/10.1007/s10644-007-9030-4
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Article provided by Springer in its journal Economic Change and Restructuring.

Volume (Year): 40 (2007)
Issue (Month): 3 (September)
Pages: 253-266

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Handle: RePEc:kap:ecopln:v:40:y:2007:i:3:p:253-266
Contact details of provider: Web page: http://www.springerlink.com/link.asp?id=113294

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  1. Andrew Weiss & Georgiy Nikitin, 1998. "Performance of Czech Companies by Ownership Structure," William Davidson Institute Working Papers Series 186, William Davidson Institute at the University of Michigan.
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  8. Alan Bevan & Saul Estrin & Mark E. Schaffer, 1999. "Determinants of Enterprise Performance during Transition," CERT Discussion Papers 9903, Centre for Economic Reform and Transformation, Heriot Watt University.
  9. Kay, J A & Thompson, D J, 1986. "Privatisation: A Policy in Search of a Rationale," Economic Journal, Royal Economic Society, vol. 96(381), pages 18-32, March.
  10. Nellis, J., 1999. "Time to Rethink Privatization in Transition Economies?," Papers 38, World Bank - International Finance Corporation.
  11. Megginson, William Leon, 2005. "The Financial Economics of Privatization," OUP Catalogue, Oxford University Press, number 9780195150629.
  12. Megginson, William L & Nash, Robert C & van Randenborgh, Matthias, 1994. " The Financial and Operating Performance of Newly Privatized Firms: An International Empirical Analysis," Journal of Finance, American Finance Association, vol. 49(2), pages 403-52, June.
  13. Jeffry M. Netter & William L. Megginson, 2001. "From State to Market: A Survey of Empirical Studies on Privatization," Journal of Economic Literature, American Economic Association, vol. 39(2), pages 321-389, June.
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