Origin and Concentration: Corporate Ownership, Control and Performance

We analyze the effects of different types and concentration ownership on performance using a population firms in model transition economy after mass privatization. Specifications based first-differences unusual instrumental variables show that contrary to conventional wisdom, privatization are limited many private owners do not generate is from with state ownership. Concentrated has positive effect but only some instances foreign detectable primarily for majority industrial firms. The concentrated support agency theory go against theories stressing managerial autonomy. Our results also consistent managers or stockholders “looting” as holder golden share employment specifications output profitability. Overall, our suggest expectations earlier findings were premature, being indistinguishable