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Title:Divide and privatize: Firms break-up and performance PDF Logo
Authors:Koécenda, Evézen
Hanousek, Jan
Issue Date:2010
Series/Report no.:Arbeiten aus dem Osteuropa-Institut Regensburg, Wirtschaftswissenschaftliche Abteilung 291
Abstract:We analyze the long-term effects of divesture and ownership change on corporate performance. We employ 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 divestiture found in the developed-market literature, show that the initial effects of divestiture are positive but after a certain point they quickly diminish over time.
Subjects:firm divestiture
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:Working Papers, Osteuropa-Institut Regensburg / München (OEI)

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