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How Does Privatization Work? Ownership Concentration and Enterprise Performance in Ukraine
Author:
Mr. Alexander Pivovarsky null

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Series:
IMF Working Papers
Volume/Issue:
Volume 2001: Issue 042
Language:
English
Publication Date:
01 Apr 2001
DOI:
https://doi.org/10.5089/9781451846218.001
ISBN:
9781451846218
ISSN:
1018-5941
Pages:
44
Keywords:
WP; ownership concentration; enterprise performance; ownership structure; joint stock; Corporate Governance; Ownership; Privatization; Transition; privatization method; bank rank; Stocks; Total factor productivity; Labor productivity; Stock markets; Central and Eastern Europe; Europe; Global
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IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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This paper investigates the relationship between ownership concentration and enterprise performance in Ukraine. Using data on 376 medium and large enterprises, it finds that ownership concentration is positively associated with enterprise performance in Ukraine. The paper also finds that concentration of ownership by foreign companies and banks is associated with better performance than ownership concentrated by the domestic owners. Ownership by Ukrainian investment funds and holding companies does not have a positive effect on performance. In contrast to predictions by many observers of early transition, privatization methods had a lasting effect on ownership structure in Ukraine.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund