In this paper we estimate the effects of the 1991 breakups of Czechoslovak state owned enterprises (SOEs) on subsequent performance of the master enterprises and the spun-off units. Our analysis is based on quarterly and annual data of Czechoslovak industrial enterprises. We estimate the...

Using firm-level data, we estimate the effects of the major wave of 1991 breakups of Czechoslovak state-owned enterprises on the subsequent performance of the "master enterprises" and spun-off divisions. We estimate the performance effects of spinoffs by comparing the performance of enterprises...