Productivity Effects of the Ownership Concentration in Polish Employee-Owned Companies

• Autorzy: Agnieszka Matuszewska-Pierzynka
• Języki publikacji: EN

Abstrakty

EN

Research background: The conducted empirical research on the influence of the degree of ownership concentration in the employee-owned companies on their sales revenues thematically fits into the issue of efficiency of the direct privatisation method, in particular giving a state-owned enterprise for use against payment.
Purpose of the article: The main goal of this article is to verify the research hypothesis stating that in employee-owned companies an increase in the degree of ownership concentration leads to an increase in sales revenues.
Methods: The empirical studies were carried out on a sample of 15 employee-owned companies from Mazowieckie Province, which concluded the agreement of giving a state-owned enterprise for use against payment from 2000 to 2004 and using the data from financial statements handed in by these entities to the National Court Register for a ten-year period after the privatisation year. The verification of research hypothesis was based on the estimation of a Cobb-Douglas production function by Ordinary Least Squares method for two variants, differing in the way of measuring the degree of ownership concentration in investigated employee-owned companies.
Findings & Value added: The research hypothesis formulated in this paper was verified negatively as the increase in the degree of ownership concentration in employee-owned companies caused the decrease in their sales revenues. The conducted empirical research also suggests that sales revenues in examined employee-owned companies peak at some intermediate/optimal level of ownership concentration. (original abstract)

Słowa kluczowe

EN

Privatisation; Direct privatization; Productivity; Ownership structure

PL

Prywatyzacja; Prywatyzacja bezpośrednia; Produktywność; Struktura własnościowa

• Czasopismo: Equilibrium
• Rocznik: 2018
• Tom: 13
• Numer: nr 4
• Strony: 781--798

Twórcy

autor

Agnieszka Matuszewska-Pierzynka

• University of Lodz, Poland

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Identyfikatory

DOI

10.24136/eq.2018.038