Ownership and Performance of Lithuanian Enterprises
The author presents some evidence of improved corporate performance in Lithuania for the period 1995-97. His question: Were these improvements in any way caused by privatization and changes in the environment in which enterprises operate? He presents evidence of correlation between ownership and ent...
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| Format: | Publications & Research |
| Language: | en_US |
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World Bank, Washington, DC
2015
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| Online Access: | http://hdl.handle.net/10986/21581 |
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okr-10986-21581 |
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oai_dc |
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okr-10986-215812021-04-23T14:04:03Z Ownership and Performance of Lithuanian Enterprises Grigorian, David A. enterprise development performance indicators private ownership corporate performance institution building transition economies commercialization state owned enterprises export performance revenue mobilization subsidy payments market competition privatization accountability accounting assets auctions balance sheet book value commercial banks contract enforcement debt economic reforms economies in transition employment face value financial data hard budget constraints holding companies housing inflation institutional environment labor productivity moral hazard municipalities privatization productivity regulatory framework risk taking savings shareholding state enterprises state ownership state property trading transition economies utilities voucher privatization wages The author presents some evidence of improved corporate performance in Lithuania for the period 1995-97. His question: Were these improvements in any way caused by privatization and changes in the environment in which enterprises operate? He presents evidence of correlation between ownership and enterprise performance as measured by increased revenues, and improved export performance. Controlling for pre-selection bias increases the magnitude, and significance of private share ownership, which indicates negative selection bias at privatization. On the other hand, (expected) subsidies seem to contribute negatively to enterprise performance. However, the study finds no clear evidence of the effect of market competition on performance indicators in the short run. The author's is the first study to analyze the consequences of commercial (as opposed to mass) privatization in Central and Eastern European countries. 2015-03-11T14:50:47Z 2015-03-11T14:50:47Z 2000-05 http://hdl.handle.net/10986/21581 en_US Policy Research Working Papers;No. 2343 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank, Washington, DC Publications & Research Publications & Research :: Policy Research Working Paper Europe and Central Asia Lithuania |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
en_US |
| topic |
enterprise development performance indicators private ownership corporate performance institution building transition economies commercialization state owned enterprises export performance revenue mobilization subsidy payments market competition privatization accountability accounting assets auctions balance sheet book value commercial banks contract enforcement debt economic reforms economies in transition employment face value financial data hard budget constraints holding companies housing inflation institutional environment labor productivity moral hazard municipalities privatization productivity regulatory framework risk taking savings shareholding state enterprises state ownership state property trading transition economies utilities voucher privatization wages |
| spellingShingle |
enterprise development performance indicators private ownership corporate performance institution building transition economies commercialization state owned enterprises export performance revenue mobilization subsidy payments market competition privatization accountability accounting assets auctions balance sheet book value commercial banks contract enforcement debt economic reforms economies in transition employment face value financial data hard budget constraints holding companies housing inflation institutional environment labor productivity moral hazard municipalities privatization productivity regulatory framework risk taking savings shareholding state enterprises state ownership state property trading transition economies utilities voucher privatization wages Grigorian, David A. Ownership and Performance of Lithuanian Enterprises |
| geographic_facet |
Europe and Central Asia Lithuania |
| relation |
Policy Research Working Papers;No. 2343 |
| description |
The author presents some evidence of improved corporate performance in Lithuania for the period 1995-97. His question: Were these improvements in any way caused by privatization and changes in the environment in which enterprises operate? He presents evidence of correlation between ownership and enterprise performance as measured by increased revenues, and improved export performance. Controlling for pre-selection bias increases the magnitude, and significance of private share ownership, which indicates negative selection bias at privatization. On the other hand, (expected) subsidies seem to contribute negatively to enterprise performance. However, the study finds no clear evidence of the effect of market competition on performance indicators in the short run. The author's is the first study to analyze the consequences of commercial (as opposed to mass) privatization in Central and Eastern European countries. |
| format |
Publications & Research |
| author |
Grigorian, David A. |
| author_facet |
Grigorian, David A. |
| author_sort |
Grigorian, David A. |
| title |
Ownership and Performance of Lithuanian Enterprises |
| title_short |
Ownership and Performance of Lithuanian Enterprises |
| title_full |
Ownership and Performance of Lithuanian Enterprises |
| title_fullStr |
Ownership and Performance of Lithuanian Enterprises |
| title_full_unstemmed |
Ownership and Performance of Lithuanian Enterprises |
| title_sort |
ownership and performance of lithuanian enterprises |
| publisher |
World Bank, Washington, DC |
| publishDate |
2015 |
| url |
http://hdl.handle.net/10986/21581 |
| _version_ |
1764448632469192704 |