|
EconStor >
Osteuropa-Institut Regensburg (OEI) >
Working Papers, Osteuropa-Institut Regensburg (OEI) >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/57806
|
| | |
| Title: | | Financial efficiency and the ownership of Czech firms  |
| Authors: | | Hanousek, Jan Koécenda, Evézen Maésika, Michal |
| Issue Date: | | 2011 |
| Series/Report no.: | | Arbeiten aus dem Osteuropa-Institut Regensburg, Arbeitsbereich Wirtschaft, Migration und Integration 300 |
| Abstract: | | In this paper we analyze the evolution of firm financial efficiency in the Czech Republic. Using a large panel of more than 400,000 Czech firm/years we study whether firms fully utilize their resources, how firm financial efficiency evolves over time, and how firm financial efficiency is determined by ownership structure. We employ a panel ver-sion of a stochastic production frontier model for the period 1996-2007 with time-invariant efficiency. We differentiate among various degrees of ownership concentra-tion and their domestic or foreign origin. In a two-stage set-up we estimate the degree of firm inefficiency and then we estimate the effect of ownership structure on the distance from the efficiency frontier. Our results support the hypothesis that concentration and foreign ownership are positively related to financial efficiency. |
| Subjects: | | financial efficiency ownership structure firms panel data stochastic fron-tier |
| JEL: | | C33 D24 G32 L60 L80 M21 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Working Papers, Osteuropa-Institut Regensburg (OEI)
|
| Files in This Item:
| |
|
| No. of Downloads:
| |
| last Month |
last 3 Month |
total |
|
|
|
|
|
| |
| | |
Download bibliographical data as:
BibTeX
|
| |
Share on:http://hdl.handle.net/10419/57806
|
Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.
|