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Productivity effects of the ownership concentration in employee–owned companies

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  • Agnieszka Matuszewska-Pierzynka

    (University of Lodz Poland)

Abstract

Empirical research on the influence of the degree of ownership concentration in the employee–owned companies on their sales revenues thematically fits into the issue of efficiency of the direct privatisation method, in particular giving a state–owned enterprise for use against payment. The main goal of this article is to verify the research hypothesis stating that in employee–owned companies an increase in the degree of ownership concentration leads to an increase in sales revenues. In conducted empirical studies parameters of a Cobb–Douglas production function were estimated by Ordinary Least Squares method for two variants, differing in the way of measuring the degree of ownership concentration. The research hypothesis formulated in this paper was verified negatively as the increase in the degree of ownership concentration in employee–owned companies caused the decrease in their sales revenues.

Suggested Citation

  • Agnieszka Matuszewska-Pierzynka, 2017. "Productivity effects of the ownership concentration in employee–owned companies," Working Papers 73/2017, Institute of Economic Research, revised May 2017.
    • Handle: RePEc:pes:wpaper:2017:no73
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    More about this item

    Keywords

    privatisation process; direct privatisation; employee–owned company; productivity; ownership structure;
    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
    • L33 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Comparison of Public and Private Enterprise and Nonprofit Institutions; Privatization; Contracting Out

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