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ifo Institut – Leibniz-Institut für Wirtschaftsforschung an der Universität München >
CESifo Working Papers, CESifo Group Munich >
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http://hdl.handle.net/10419/46509
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| Title: | | Divide and privatize: Firm break-up and performance  |
| Authors: | | Koécenda, Evézen Hanousek, Jan |
| Issue Date: | | 2011 |
| Series/Report no.: | | CESifo working paper: Industrial Organisation 3465 |
| 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. |
| Subjects: | | break-up of firms corporate performance ownership changes privatization emerging markets endogeneity propensity score matching procedure |
| JEL: | | D23 G32 G34 L20 M21 P47 |
| Document Type: | | Working Paper |
| Appears in Collections: | | CESifo Working Papers, CESifo Group Munich
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