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Effects of Ownership and Management Changes on Productivity in Privatized Montenegrin Firms

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Listed:
  • Matjaž Koman
  • Ljubica KneževiÄ Cvelbar
  • Anðelko Lojpur
  • Janez PraÅ¡nikar

Abstract

This study reflects the relationship between ownership change, ownership concentration, management turnover, and productivity of Montenegrin privatized companies covering the period 2004-7. Results show that ownership concentration and the presence of domestic and foreign private owners are positively related to firms' productivity. Companies that replaced the chairman of the management board also improved their productivity. The study further discusses the results in terms of the specific characteristics of the Montenegrin economy and the relevance of the study results for the general characteristics of the transition economies.

Suggested Citation

  • Matjaž Koman & Ljubica KneževiÄ Cvelbar & Anðelko Lojpur & Janez PraÅ¡nikar, 2011. "Effects of Ownership and Management Changes on Productivity in Privatized Montenegrin Firms," Eastern European Economics, Taylor & Francis Journals, vol. 49(3), pages 5-25, May.
    • Handle: RePEc:mes:eaeuec:v:49:y:2011:i:3:p:5-25
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    Cited by:

    1. Koman, Matjaž & Lakićević, Milan & Prašnikar, Janez & Svejnar, Jan, 2015. "Asset stripping and firm survival in mass privatization: Testing the Hoff-Stiglitz and Campos-Giovannoni models in Montenegro," Journal of Comparative Economics, Elsevier, vol. 43(2), pages 274-289.
    2. Koman, Matjaž & Laki?evi?, Milan & Prašnikar, Janez & Svejnar, Jan, 2013. "Asset Stripping, Rule of Law and Firm Survival: The Hoff-Stiglitz Model and Mass Privatization in Montenegro," IZA Discussion Papers 7821, Institute of Labor Economics (IZA).
    3. Ichiro IWASAKI & Satoshi MIZOBATA, 2018. "Post-Privatization Ownership And Firm Performance: A Large Meta-Analysis Of The Transition Literature," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 89(2), pages 263-322, June.
    4. Ichiro Iwasaki & Satoshi Mizobata, 2020. "Ownership Concentration and Firm Performance in European Emerging Economies: A Meta-Analysis," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 56(1), pages 32-67, January.

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