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