Conference paper
THE EVOLUTION OF OWNERSHIP, INNOVATION AND FIRM PERFORMANCE: EMPIRICAL EVIDENCE FROM MACEDONİA
Hyrije Abazi-Alili
orcid.org/0000-0002-6205-1431
; South East European University University Finance, Business and Economics, Macedonia
Abstract
The aim of this paper is to investigate the relationship between ownership evolution, innovation activities and firms performance using firm-level data on 60 privatised enterprises in Macedonia for the period 2001-2010. To examine the nature of this relationship we will develop a model relating the determinants of ownership and performance and apply it to the original dataset collected by the author. Specifically, the investigation will respond to several questions such as the impact of ownership structure and innovation activities undertaken by firms, competition from other firms, sector, location, age, size and other firm characteristics on the firm performance. The main contribution of this empirical work is reflected in the application of new and advanced econometric techniques such as two-step GMM kernel and enhanced CUE (GMM) estimations to the analysis of changes in performance resulting from the change in ownership in Macedonia. By investigating this relationship we provide sufficient evidence to support the view of significant Ownershipperformance relationship of privatised firms in Macedonia.
Keywords
ownership evolution; innovation activities; productivity
Hrčak ID:
161447
URI
Publication date:
27.9.2013.
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