Corporate efficiency in Europe
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216208%3A11230%2F15%3A10295386" target="_blank" >RIV/00216208:11230/15:10295386 - isvavai.cz</a>
Alternative codes found
RIV/00216208:11640/15:00444299
Result on the web
<a href="http://www.sciencedirect.com/science/article/pii/S0929119915000437" target="_blank" >http://www.sciencedirect.com/science/article/pii/S0929119915000437</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.1016/j.jcorpfin.2015.03.003" target="_blank" >10.1016/j.jcorpfin.2015.03.003</a>
Alternative languages
Result language
angličtina
Original language name
Corporate efficiency in Europe
Original language description
Using a stochastic frontier model and a comprehensive dataset, we study factors that affect corporate efficiency in Europe. We find that (i) larger firms are less efficient than smaller firms, (ii) greater leverage contributes to corporate efficiency, and (iii) high competition is less conductive to efficiency than moderate or low competition. In terms of ownership, we find that (iv) efficiency increases when a majority owner must deal with minority shareholders and that (v) domestic majority owners improve efficiency more than foreign majority owners when no minority shareholders are present, but (vi) the opposite is true when minority shareholders hold a substantial fraction of the firm's equity. In the analysis, we distinguish between a pre-crisis period (2001-2008) and a post-crisis period (2009-2011), and find that our results are sensitive to the period of observation. (C) 2015 Elsevier B.V. All rights reserved.
Czech name
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Czech description
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Classification
Type
J<sub>x</sub> - Unclassified - Peer-reviewed scientific article (Jimp, Jsc and Jost)
CEP classification
AH - Economics
OECD FORD branch
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Result continuities
Project
<a href="/en/project/GA15-15927S" target="_blank" >GA15-15927S: Firm production, efficiency, and corporate finance: An international perspective</a><br>
Continuities
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace
Others
Publication year
2015
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Name of the periodical
Journal of Corporate Finance
ISSN
0929-1199
e-ISSN
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Volume of the periodical
32
Issue of the periodical within the volume
červen
Country of publishing house
NL - THE KINGDOM OF THE NETHERLANDS
Number of pages
17
Pages from-to
24-40
UT code for WoS article
000356635300002
EID of the result in the Scopus database
2-s2.0-84927593535