Ownership and Performance of Lithuanian Enterprises

Grigorian, David A.

World Bank, Washington, DC

关键词: enterprise development;    performance indicators;    private ownership;    corporate performance;    institution building;   

DOI  :  10.1596/1813-9450-2343
RP-ID  :  WPS2343

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

The author presents some evidence of improved corporate performance in Lithuania for the period 1995-97. His question: Were these improvements in any way caused by privatization and changes in the environment in which enterprises operate? He presents evidence of correlation between ownership and enterprise performance as measured by increased revenues, and improved export performance. Controlling for pre-selection bias increases the magnitude, and significance of private share ownership, which indicates negative selection bias at privatization. On the other hand, (expected) subsidies seem to contribute negatively to enterprise performance. However, the study finds no clear evidence of the effect of market competition on performance indicators in the short run. The author's is the first study to analyze the consequences of commercial (as opposed to mass) privatization in Central and Eastern European countries.