Ownership Concentration and Corporate Performance in the Czech Republic |
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2,860 observations change ownership Christoph Schmidt coefficients concentrated ownership concentration and corporate corporate performance Czech Republic Czech voucher scheme Discussion Papers Dummies Included Yes effects of ownership empirical endogeneity errors are heteroskedasticity-consistent Explanatory Variable find a positive firm characteristics following voucher privatization foreign strategic investors Goswell Road higher profitability Included Yes Yes increase in short-term investment funds investors with insider Jean Tirole Labor Productivity Ownership Labour Economics large number Macroeconomic managers market economies monitoring non-bank sponsored investment Nonbank-sponsored funds number of firms numeraire optimal ownership structure ownership and firm ownership stakes Ownership Types portfolio positive and significant positively related Prague Stock Exchange Productivity Ownership Concentration profitability and labor Profitability Labor Productivity random-effects model relationship between ownership sample second phase sector dummies shareholders shares structure and corporate subscription Table transactions costs transition economies types of owners types of ownership voucher rounds weakly robust Weiss and Nikitin World Bank Yes Yes Yes