Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/57806 
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dc.contributor.authorHanousek, Janen
dc.contributor.authorKoécenda, Evézenen
dc.contributor.authorMaésika, Michalen
dc.date.accessioned2011-06-09-
dc.date.accessioned2012-05-09T10:02:46Z-
dc.date.available2012-05-09T10:02:46Z-
dc.date.issued2011-
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
dc.language.isoengen
dc.publisher|aOsteuropa-Institut Regensburg |cRegensburgen
dc.relation.ispartofseries|aArbeiten aus dem Osteuropa-Institut Regensburg |x300en
dc.subject.jelC33en
dc.subject.jelD24en
dc.subject.jelG32en
dc.subject.jelL60en
dc.subject.jelL80en
dc.subject.jelM21en
dc.subject.ddc330en
dc.subject.keywordfinancial efficiencyen
dc.subject.keywordownership structureen
dc.subject.keywordfirmsen
dc.subject.keywordpanel dataen
dc.subject.keywordstochastic fron-tieren
dc.subject.stwFinanzierungen
dc.subject.stwUnternehmensentwicklungen
dc.subject.stwTechnische Effizienzen
dc.subject.stwEigentümerstrukturen
dc.subject.stwSchätzungen
dc.subject.stwTschechische Republiken
dc.titleFinancial efficiency and the ownership of Czech firms-
dc.typeWorking Paperen
dc.identifier.ppn661845079en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:ost:wpaper:300en

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