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

Author/Editor:

Alexander Pivovarsky

Publication Date:

April 1, 2001

Electronic Access:

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Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary:

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.

Series:

Working Paper No. 01/42

Subject:

Corporate governance Governance Privatization Transition economies Ukraine

English

Publication Date:

April 1, 2001

ISBN/ISSN:

9781451846218/1018-5941

Stock No:

WPIEA0422001

Format:

Paper

Pages:

44

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