Firm break-up and performance

被引：8
|
作者：
Kocenda, Evzen [1 ,2 ]
Hanousek, Jan [1 ,2 ]
机构：
[1] Charles Univ Prague, CERGE EI, Prague 11121, Czech Republic
[2] Acad Sci Czech Republ, Prague 11121, Czech Republic
来源：
ECONOMICS OF GOVERNANCE | 2012年 / 13卷 / 02期
关键词：
Break-up of firms; Corporate performance; Ownership changes; Privatization; Emerging markets; Endogeneity; Propensity score matching procedure; OWNERSHIP; STATE; PRIVATIZATION; GOVERNANCE; TRANSITION; LIMITS;
D O I：
10.1007/s10101-011-0106-2
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
We analyze the effects of firm break-up on corporate performance. Our analysis is based on a unique data set for a large number of Czech firms spanning the period 1996-2000. We employ a propensity score matching procedure to deal with endogeneity problems. Our results, which are generally in line with the positive effects of firm break-up found in the developed-market literature, show that the initial effects of firm break-up are positive but after a certain point they disappear within a short time. Factors like changes in ownership structure or management are found to be behind later improvements in the performance of firms.
引用
收藏
页码：121 / 143
页数：23
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