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Competition and Corporate Governance : Substitutes or Complements ? Evidence from the Warsaw Stock Exchange

Author

Listed:
  • Irena Grosfeld
  • Thierry Tressel

Abstract

In this paper we analyse the impact of product market competition and ownership structure on corporate performance. We focus on the firms listed on the Warsaw Stock Exchange, which are either privatised or newly created firms. First, we study the separate effects of competition and ownership concentration on firm level productivity growth. Next, we investigate their interaction: are they substitutes or complements?

Suggested Citation

  • Irena Grosfeld & Thierry Tressel, 2001. "Competition and Corporate Governance : Substitutes or Complements ? Evidence from the Warsaw Stock Exchange," DELTA Working Papers 2001-06, DELTA (Ecole normale supérieure).
    • Handle: RePEc:del:abcdef:2001-06
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    File URL: http://www.delta.ens.fr/abstracts/wp200106.pdf
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    Cited by:

    1. Manoranjan Pattanayak Author- Workplace-Name: CRISIL LIMITED & Manoj Pant, "undated". "Corporate Governance, Competition and Firm Performance: Evidence from India," Centre for International Trade and Development, Jawaharlal Nehru University, New Delhi Discussion Papers 10-07, Centre for International Trade and Development, Jawaharlal Nehru University, New Delhi, India.
    2. Michal Gorzynski, 2002. "Consolidation of ownership and market consolidation: the role of relational investors on the Polish beer market 1990-1999," UCL SSEES Economics and Business working paper series 11, UCL School of Slavonic and East European Studies (SSEES).
    3. repec:lic:licosd:14204 is not listed on IDEAS
    4. Manoj Pant & Manoranjan Pattanayak, 2010. "Corporate Governance, Competition and Firm Performance," Journal of Emerging Market Finance, Institute for Financial Management and Research, vol. 9(3), pages 347-381, December.
    5. Jan Hanousek & Evžen Kočenda & Jan Svejnar, 2007. "Origin and concentration," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 15(1), pages 1-31, January.
    6. Olufemi Bodunde Obembe & Rosemary Olufunmilayo Soetan, 2015. "Competition, corporate governance and corporate performance," African Journal of Economic and Management Studies, Emerald Group Publishing Limited, vol. 6(3), pages 251-271, September.

    More about this item

    Keywords

    MARKET ; COMPETITION ; OWNERSHIP;
    All these keywords.

    JEL classification:

    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • L1 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance
    • P2 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies

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