Politická ekonomie
Politická ekonomie
Politická ekonomie
TEORETICKÝ ČASOPIS • ISSN 0032-3233 (Print) • ISSN 2336-8225 (Online)

Politická ekonomie Vol. 59 No. 5

Vliv rozdělení českých podniků na ziskovost a produktivitu

DOI: https://doi.org/10.18267/j.polek.809

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Evžen Kočenda, Jan Hanousek

In this article we analyze medium- and long-term effects of firm break-up (and subsequent change in ownership) on its profitability and productivity. We use an extensive data-set of the Czech firms for the period 1996-2005. We employ the propensity score based matching methodology to account for potential endogeneity. Our results show that initial effects of the firm break-up are positive but they vanish in five to seven years after the break-up. Hence, the break-up of large and less efficient companies delivers a positive effect on corporate performance for a period of time. The effect is not permanent, though. Subsequent development in profitability and productivity is likely affected by ownership structure, corporate governance and other micro-level factors.

JEL klasifikace: D23, G32, G34, L20, M21, P47

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