Foreign Portfolio Investment Improves Performance: Evidence from the Czech Republic

A BEJEAP Topics article. Abstract When foreigners became the major shareholders of publicly traded firms in the Czech Republic, those firms experienced improvements in performance and increases in investment. In contrast, controlling for ownership type, ownership concentration had no independent eff...

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Bibliographic Details
Published in:The B.E. Journal of Economic Analysis & Policy 2004-06, Vol.4 (1), p.15
Main Authors: Weiss, Andrew, Nikitin, Georgiy A
Format: Article
Language:English
Subjects:
Bias
Czech Republic
Economic analysis
Economic concentration
Economic performance
Economic policy
Economics
Estimating techniques
Foreign direct investment
Foreign investment
Foreign Ownership and Control
Investment
Labor productivity
Long Differences
Looting
Operating companies
Ownership
Ownership Concentration
Portfolio Investment
Portfolio investments
Portfolio management
Privatization
Profitability
Public companies
Stockholders
Studies
Transition Economies
Vouchers
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Summary:A BEJEAP Topics article. Abstract When foreigners became the major shareholders of publicly traded firms in the Czech Republic, those firms experienced improvements in performance and increases in investment. In contrast, controlling for ownership type, ownership concentration had no independent effect on performance or investment. The results are robust to the estimation technique used, the choice of independent variables, and the methods used to control for selection bias. Submitted: September 18, 2003 · Accepted: March 10, 2004 · Published: June 7, 2004 Originally published in Topics in Economic Analysis & Policy. Recommended Citation Weiss, Andrew and Nikitin, Georgiy A. (2004) "Foreign Portfolio Investment Improves Performance: Evidence from the Czech Republic," Topics in Economic Analysis & Policy: Vol. 4 : Iss. 1, Article 15. Available at: http://www.bepress.com/bejeap/topics/vol4/iss1/art15
ISSN:1538-0653
1935-1682
1538-0653
DOI:10.2202/1538-0653.1205