Original scientific paper
https://doi.org/10.1080/1331677X.2020.1865827
Ownership structure and firm performance – The case of Slovenia
Suzana Laporšek
Primož Dolenc
Andraž Grum
Igor Stubelj
Abstract
The article studies the relationship between ownership structure
and performance of the Slovenian join stock companies, with special focus on the comparison of performance of state- and privately-owned joint stock companies and ownership concentration.
The empirical analysis employs firm-level annual financial reports
data and data on ownership structure of all Slovenian join stock
companies for the 2005–2017 period. Using panel regression analyses we find that Slovenian state-owned joint stock companies are
less profitable than their privately-owned counterparts. In contrast,
we do not observe statistically significant relationship between
ownership concentration and firm performance. The empirical
findings point on the need of further actions in improvement of
corporate governance of state-owned firms in Slovenia.
Keywords
firm performance; ownership concentration; ownership structure; state ownership; Slovenia
Hrčak ID:
301469
URI
Publication date:
31.12.2021.
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