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dc.contributor.authorHanousek, Janen_US
dc.contributor.authorKoécenda, Evézenen_US
dc.contributor.authorMaésika, Michalen_US
dc.date.accessioned2011-06-09en_US
dc.date.accessioned2012-05-09T10:02:46Z-
dc.date.available2012-05-09T10:02:46Z-
dc.date.issued2011en_US
dc.identifier.urihttp://hdl.handle.net/10419/57806-
dc.description.abstractIn 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.en_US
dc.language.isoengen_US
dc.publisherOsteuropa-Inst. Regensburgen_US
dc.relation.ispartofseriesArbeiten aus dem Osteuropa-Institut Regensburg, Arbeitsbereich Wirtschaft, Migration und Integration 300en_US
dc.subject.jelC33en_US
dc.subject.jelD24en_US
dc.subject.jelG32en_US
dc.subject.jelL60en_US
dc.subject.jelL80en_US
dc.subject.jelM21en_US
dc.subject.ddc330en_US
dc.subject.keywordfinancial efficiencyen_US
dc.subject.keywordownership structureen_US
dc.subject.keywordfirmsen_US
dc.subject.keywordpanel dataen_US
dc.subject.keywordstochastic fron-tieren_US
dc.subject.stwFinanzierungen_US
dc.subject.stwUnternehmensentwicklungen_US
dc.subject.stwTechnische Effizienzen_US
dc.subject.stwEigentümerstrukturen_US
dc.subject.stwSchätzungen_US
dc.subject.stwTschechische Republiken_US
dc.titleFinancial efficiency and the ownership of Czech firmsen_US
dc.typeWorking Paperen_US
dc.identifier.ppn661845079en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:Working Papers, Osteuropa-Institut Regensburg / München (OEI)

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