Ownership concentration and corporate performance in the Czech Republic
S Claessens, S Djankov - Journal of comparative economics, 1999 - Elsevier
The relationship between ownership structure and corporate performance has been the
subject of intense research in both transition and market economies. The Czech Republic's
mass-privatization program provides an unique opportunity to investigate this relationship. It
changed the ownership of firms in a short period of time, and firm characteristics had only a
limited influence on the resulting ownership structure. For a cross section of 706 Czech firms
over the period 1992 through 1997, we find that the more concentrated the ownership, the …
subject of intense research in both transition and market economies. The Czech Republic's
mass-privatization program provides an unique opportunity to investigate this relationship. It
changed the ownership of firms in a short period of time, and firm characteristics had only a
limited influence on the resulting ownership structure. For a cross section of 706 Czech firms
over the period 1992 through 1997, we find that the more concentrated the ownership, the …
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