@techreport{Koecenda2011Divide,
abstract = {We analyze the long-term effects of firm break-up and ownership change on corporate performance. Our analysis is based on a unique data set for a large number of Czech firms spanning the period 1996-2005. We employ a propensity score matching procedure to deal with endogeneity problems. Our results, which are generally in line with the positive effects of firm break-up found in the developed-market literature, show that the initial effects of firm break-up are positive but after a certain point they quickly diminish over time. Factors like changes in ownership structure and management are to be found behind later improvements in the performance of firms.},
address = {M\"{u}nchen},
author = {Ev\'{e}zen Ko\'{e}cenda and Jan Hanousek},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {D23; G32; G34; L20; M21; P47; 330; break-up of firms; corporate performance; ownership changes; privatization; emerging markets; endogeneity; propensity score matching procedure; Desinvestition; Privatisierung; Unternehmensentwicklung; Aufstrebende M\"{a}rkte; Sch\"{a}tzung; Tschechische Republik},
language = {eng},
number = {3465},
publisher = {CESifo},
title = {Divide and privatize: Firm break-up and performance},
type = {CESifo working paper: Industrial Organisation},
url = {http://hdl.handle.net/10419/46509},
year = {2011}
}
