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Efektivita evropských firem
[Efficiency of European Firms]

Listed author(s):
  • Jan Hanousek
  • Evžen Kočenda
  • Anastasiya Shamshur

This paper analyzes the technological efficiency of companies in the European Union (EU). Our extensive database covers more than 4 million firm/year observations from many EU countries including both manufacturing and service sectors in 2001-2007. Methodologically we apply a model of a stochastic production productivity frontier. We show that: the economic signifikance of company age is negligible, the higher the debt the greater the efficiency, bigger companies are less efficient, and a medium-level concentration of the market benefits companies. Majority ownership, in contrast, does not lead to higher efficiency, but a combination of majority and minority ownership has a positive disciplinary influence leading to higher efficiency. As to the origins of ownership, it does not seem that foreign-(co-)owned companies imply greater efficiency in old European countries, whereas foreign ownership is a significant driver of efficiency in new EU members through FDI.

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

Volume (Year): 2014 (2014)
Issue (Month): 3 ()
Pages: 303-322

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Handle: RePEc:prg:jnlpol:v:2014:y:2014:i:3:id:953:p:303-322
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