The Performance of Enterprises in Estonia 1993-1997

Panu Kalmi, Niels Mygind, Erik Terk

    Research output: Working paperResearch

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    The paper uses data from 347 large and medium sized Estonian enterprises. The data contains detailed information on ownership structures, financial information and investments. We divide the firms in the sample according to the method of privatisation and largest owner. First, we are able to provide information on how different types of owners (foreigners, domestic outsiders and insiders) participated in the privatisation process in different branches and how the ownership structures have evolved. Then we use several performance measures in evaluating the efficiency of different privatisation forms and ownership types. The performance measures include sales and employment dynamics, investment, and profit margins. We seek answers to the following questions:Does privatisation enhance performance? • Does the form or time of privatisation have any effects on performance?Do different ownership structures matter for performance evaluations?

    Original languageEnglish
    Place of PublicationFrederiksberg
    PublisherCEES, Copenhagen Business School
    Number of pages20
    Publication statusPublished - Jan 1999
    SeriesWorking Paper / Center for East European Studies. Copenhagen Business School

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