Počet záznamů: 1
Firm efficiency: domestic owners, coalitions, and FDI
- 1.0384792 - NHU-C 2013 RIV NL eng J - Článek v odborném periodiku
Hanousek, Jan - Kočenda, Evžen - Mašika, M.
Firm efficiency: domestic owners, coalitions, and FDI.
Economic Systems. Roč. 36, č. 4 (2012), s. 471-486. ISSN 0939-3625. E-ISSN 1878-5433
Grant CEP: GA ČR(CZ) GAP403/12/0080
Institucionální podpora: PRVOUK-P23
Klíčová slova: efficiency * ownership structure * firms
Kód oboru RIV: AH - Ekonomie
In this paper we analyze the evolution of firm efficiency in the Czech Republic. Using a large panel of more than 190,000 Czech firm/years we study whether firms fully utilize their resources, how firm efficiency evolves over time, and how firm efficiency is determined by ownership structure. We employ a panel version of a stochastic production frontier model for the period 1996–2007 with time varying efficiency. We differentiate among various degrees of ownership concentration and domestic or foreign origin. In a two stage set-up we first estimate the degree of firm inefficiency and then the effect of ownership structure on the distance from the efficiency frontier. Our results support the hypothesis that concentrated ownership is positively related to efficiency. FDI has beneficial effects at the microeconomic level. However, we show that a simple majority is not necessarily the best structure to improve efficiency. We further analyze the effects of ownership coalitions and shed light on many other subtleties of how ownership and the specific industry affect firm efficiency.
Trvalý link: http://hdl.handle.net/11104/0080993
Počet záznamů: 1