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Using a data set for 162 largest Hungarian firms during the period of 1994-1999 this paper explores the determinants of equity shares held by both foreign investors and by Hungarian corporations. We find evidence of a post-privatisation evolution towards more homogeneous equity structures, where...
Persistent link: https://www.econbiz.de/10011335737
productivity trends. …
Persistent link: https://www.econbiz.de/10011324982
Over the last two decades privatization programs in different countries radically reduced the role of the State as a …'s principal-agent structure following privatization, and incentives to invest in R&D and to patent. We compare the pre and post … privatization R&D effort and patenting behavior of 35 companies that were fully or partially privatized in 9 European countries …
Persistent link: https://www.econbiz.de/10011335727
above average size, initial profitability and initial labor productivity. After controlling for this selection bias, we find … that foreign investment has a positive, but statistically insignificant, impact on TFP (Total Factor Productivity) growth …
Persistent link: https://www.econbiz.de/10011608384
Even though it is well documented that privatization leads to an improvement in the performance of state … because it does not consider the performance of control firms of similar pre-privatization situations, i.e. the performance of … following privatization. Matching sample firms (privatized) to control firms (SOEs), I document that privatized firms do not …
Persistent link: https://www.econbiz.de/10011335746
This study surveys the academic and professional literature examining the privatisation of state-owned enterprises (SOEs), with a focus on empirical studies. Privatisation has been instrumental in reducing state ownership in many countries and had a transforming effect on global stock markets,...
Persistent link: https://www.econbiz.de/10011608465
efficiency gains result from better incentives and productivity, rather than from wholesale firing of employees and profitability …
Persistent link: https://www.econbiz.de/10011608788
indicators such as employment, turnover, and labour productivity growth. We exploit a unique dataset of 773 Italian service firms … employment, turnover, and labour productivity from the System of the Enterprise Account (SEA). We specify a Gibrat-like empirical … and turnover and a consequent not significant effect on labour productivity growth. The effect on employment is partly in …
Persistent link: https://www.econbiz.de/10010270950
The paper addresses the relevancy of networking activities and R&D as main drivers of productivity performance and … on productivity drivers and on complementarity between R&D and networking strategies, with respect to firm productivity … and process/product output innovation. R&D is a main driver of innovation and productivity, even without networking. This …
Persistent link: https://www.econbiz.de/10010312284
Following Zwiebel (1995) and Zingales (1995) the block premium is related to the share of total control rents which is being transferred through a block transaction relative to the share of control rents enjoyed by the market. The former share is measured by the difference in the seller's (the...
Persistent link: https://www.econbiz.de/10011608339