ORCID: https://orcid.org/0000-0003-2460-619X
(2002):
Product market competition, corporate governance and firm performance: An empirical analysis for Germany.
In: Research in Economics, Vol. 56, No. 3: pp. 299-332
This is the latest version of this item.
Abstract
This study examines the impact of product market competition and corporate governance on productivity growth in German manufacturing. Using a panel of almost 500 firms over the years 1986 to 1994, we find that firms experience higher productivity growth when operating in markets with intense competition. Similarly, productivity growth is higher for firms under control of a strong ultimate owner, but not when the ultimate owner is a financial institution (a group that consisted almost exclusively of German banks and insurance firms in our sample period). Our results also indicate that competition and tight control are complements: The positive effect of competition is enhanced by the presence of a strong ultimate owner.
Item Type: | Journal article |
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Faculties: | Economics Economics > Chairs > Chair of Empirical Economics |
Subjects: | 300 Social sciences > 330 Economics |
Language: | English |
Item ID: | 19548 |
Date Deposited: | 15. Apr 2014 08:51 |
Last Modified: | 04. Nov 2020 13:01 |
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Product market competition, corporate governance and firm performance: an empirical analysis for Germany. (deposited 15. Apr 2014 08:51)
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