Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/162878
Authors: 
Iwasaki, Ichiro
Kočenda, Evžen
Year of Publication: 
2017
Series/Report no.: 
IOS Working Papers 367
Abstract: 
We use a total of 1171 estimates extracted from 34 previous studies and perform a meta-analysis to examine the relationship between ownership structures and firm performance in the Czech mass-privatized firms. We find that, in contrast to the remarkable effect of foreign ownership on firm performance and restructuring activities, domestic private entities were incapable of outperforming the state as owners of Czech companies. Our assessment of publication selection bias, however, indicates that the collected estimates do not contain genuine evidence for many types of corporate ownership. Further development and improvement in this study area are necessary to capture the true effect. Finally, we also point at the importance to draw (metaanalysis) inferences based on studies that employ adequate methodology.
Subjects: 
voucher privatization
ownership structure
firm performance and restructuring
meta-analysis
publication selection bias
Czech Republic
JEL: 
D22
G32
H32
O16
P31
Document Type: 
Working Paper

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