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Firemní efektivita: vliv vlastnických struktur a finančních ukazatelů
[Corporate Efficiency: Effect of Ownership Structures and Financial Indicators]

  • Jan Hanousek
  • Evžen Kočenda
  • Michal Mašika

We employ a large panel data set and analyze efficiency in the Czech firms during 1998-2007. We investigate how their efficiency evolves over time and how it is affected by ownership structures. Methodologically we employ a panel version of a stochastic production frontier model. We distinguish several categories of the ownership concentration by domestic owners and through foreign direct investments (FDI). Our results show that concentrated and foreign ownership impact efficiency positively in general. This results confirm benefits of the foreign direct ownership on the microeconomic level. Further, we show cases when majority ownership does not necessarily constitute improvements in efficiency. We also analyze effect of ownership coalitions and bring detailed new evidence on how ownership structures and industry sectors affect firms´ efficiency.

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Article provided by University of Economics, Prague in its journal Politická ekonomie.

Volume (Year): 2012 (2012)
Issue (Month): 4 ()
Pages: 459-483

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Handle: RePEc:prg:jnlpol:v:2012:y:2012:i:4:id:857:p:459-483
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  7. Hanousek, Jan & Kocenda, Evzen & Maurel, Mathilde, 2011. "Direct and indirect effects of FDI in emerging European markets: A survey and meta-analysis," Economic Systems, Elsevier, vol. 35(3), pages 301-322, September.
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  17. Brada, Josef C & King, Arthur E & Ma, Chia Ying, 1997. "Industrial Economics of the Transition: Determinants of Enterprise Efficiency in Czechoslovakia and Hungary," Oxford Economic Papers, Oxford University Press, vol. 49(1), pages 104-27, January.
  18. Yama Temouri & Nigel L. Driffield & Dolores Añón Higón, 2008. "Analysis of Productivity Differences among Foreign and Domestic Firms: Evidence from Germany," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 144(1), pages 32-54, April.
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