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People versus Incentives: The Causes and Consequences of Managerial Change in Ukraine and the Complementary


  • Frederic Warzynski


This paper analyses the determinants of managerial change and the impact of privatisation,competition and managerial chenge on firm performance, using survey data from 300 Ukrainian firms. The main findings are: (i) Ownership and Competition are linked to managerial chenge: de novo firms but also privatised firms experienced less turnover than state firms, indicating an entrenchment effect. Firms with few competitors had less turnover as well. (ii) Managerial change and privatisation do not appear to play a role on their own but together postively affect profitability. (iii) Similarly, tough competition improves profitability and productivity in privatised firms only. These findings suggest that privatisation, competition and managerial change are complementary measures to improve the performance of the firm.

Suggested Citation

  • Frederic Warzynski, 2000. "People versus Incentives: The Causes and Consequences of Managerial Change in Ukraine and the Complementary," LICOS Discussion Papers 8800, LICOS - Centre for Institutions and Economic Performance, KU Leuven.
  • Handle: RePEc:lic:licosd:8800

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    Cited by:

    1. de Dios Tena, Juan & Forrest, David, 2007. "Within-season dismissal of football coaches: Statistical analysis of causes and consequences," European Journal of Operational Research, Elsevier, vol. 181(1), pages 362-373, August.

    More about this item


    managerial change; competition; privatisation; firm performance;

    JEL classification:

    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
    • L33 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Comparison of Public and Private Enterprise and Nonprofit Institutions; Privatization; Contracting Out
    • J63 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Turnover; Vacancies; Layoffs

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