A New Instrument for Measuring the Local Causal Effect of Privatisation on Firm Performance

Autor:	Joanna Tyrowicz, Jan Hagemejer
Jazyk:	angličtina
Rok vydání:	2020
Předmět:	privatisation endogeneity bias lcsh:HB71-74 Causal effect Economics Econometrics Manufacturing firms lcsh:Economics as a science Endogeneity firm performance
Zdroj:	Gospodarka Narodowa. The Polish Journal of Economics, Vol 303, Iss 3, Pp 35-52 (2020)
ISSN:	2300-5238 0867-0005
Popis:	Despite an apparent consensus in the literature that privatisation universally leads to an increase in firm performance, the problem of endogeneity bias is profound and has been emphasised in a number of meta-analyses. We propose a new instrument to address the endogeneity bias and apply it to Polish medium-sized and large firms in the period of 1995 to 2008. We find that improvements in firm performance are not universal; in particular, we find no improvement among manufacturing firms privatised to domestic investors.
Databáze:	OpenAIRE
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