[Vortrag Regensburg] Corporate Efficiency in Europe

10.02.2015 (13:30)

Mit "Corporate Efficiency in Europe" beschäftigt sich der Vortrag des Prager Wirtschaftswissenschaftlers Evzen Kočenda am 10. Februar 2015 in Regensburg. Der Vortrag ist Teil der Seminarreihe des AB Ökonomie am Institut für Ost- und Südosteuropaforschung (IOS), Regensburg.

Veranstaltungsort ist das IOS Regensburg, Landshuter Str. 4, Raum 109.

Using a comprehensive dataset covering more than 4 million firm/year observations and a stochastic frontier model, we study factors that affect corporate efficiency in Europe. We show that (i) larger firms are less efficient than smaller firms, (ii) greater leverage contributes to corporate efficiency, (iii) the competitiveness of the industry has different implications for efficiency depending on whether firms are located in old or new EU countries, and that (iv) ownership concentration improves corporate efficiency to a greater extent in new EU countries than in old EU countries, (v) especially when owners are foreigners. Overall, our results indicate that multiple factors–in particular ownership type and capital structure–matter for corporate efficiency.