How Does Privatization Work? Ownership Concentration and Enterprise Performance in Ukraine

45 Pages Posted: 30 Jan 2006

Multiple version iconThere are 2 versions of this paper

Date Written: April 2001

Abstract

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.

Keywords: Corporate Governance, Ownership, Privatization, Transition

JEL Classification: G32, G37, L33, P31

Suggested Citation

Pivovarsky, Alexander, How Does Privatization Work? Ownership Concentration and Enterprise Performance in Ukraine (April 2001). IMF Working Paper, Vol. , pp. 1-45, 2001. Available at SSRN: https://ssrn.com/abstract=879426

Alexander Pivovarsky (Contact Author)

Harvard University ( email )

79 John F. Kennedy Street
Cambridge, MA 02138
United States

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