State ownership and control in the Czech Republic

Arbeitspapier

We analyze the extent of the integrated control of the state over privatized firms during the post-privatization decade (1995-2005) in the Czech Republic. During this period the integrated control potential of the state resembled a corporate pyramid. While pyramidal control was not fully utilized, the golden share in the hands of the state substantially enhanced its ability to control firms. In terms of corporate performance we show that state control resulted in declining and even negative corporate performance. Integrated state control was shown to be mostly inferior when compared with private types of ownership. State ownership positions are in striking contrast with the lack of capacity to push corporate performance in order to collect larger tax volumes. Lack of focus and inter-agency cooperation as well as the simple inefficiency of the state bureaucracy are the most likely reasons behind our findings.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: CESifo Working Paper ; No. 2801

Classification and Topics

• Classification: Wirtschaft ; Multiple or Simultaneous Equation Models; Multiple Variables: General ; Firm Behavior: Theory ; Production and Organizations: Other ; Corporate Finance and Governance: General ; Business Objectives of the Firm
• Subject: state ownership ; control ; corporate performance ; privatization ; Öffentliche Kapitalbeteiligung ; Öffentliches Unternehmen ; Privatisierung ; Staatliche Einflussnahme ; Unternehmensentwicklung ; Tschechische Republik

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Kocenda, Evézen ; Hanousek, Jan
• Event: Veröffentlichung
• (who): Center for Economic Studies and ifo Institute (CESifo)
• (where): Munich
• (when): 2009

Further information

• Handle: http://hdl.handle.net/10419/30495
• Last update: 25.04.20252025, 8:42 AM CEST