The differentiation of economic efficiency within employee-owned companies
DOI:
https://doi.org/10.26485/SPE/2020/114/17Keywords:
ownership transformations, direct privatisation, giving a state-owned enterprise for use against payment, sales revenue, ownership concentrationAbstract
Background: The empirical research on the differentiation of economic efficiency within employee-owned companies as measured in terms of sales revenue while minimizing the degree of ownership concentration thematically applies toward evaluating the effectiveness of the direct privatisation method implemented by giving a state-owned enterprise for use against payment.
Research purpose: The main goal of this article is to empirically verify the research hypothesis, stating that the degree of ownership concentration significantly differentiates the economic efficiency of employee-owned companies in terms of sales revenue.
Methods: The empirical verification of this hypothesis was carried out using the method of Data Envelopment Analysis (DEA), which measures the relative technical efficiency of a given decision-making unit (DMU). Empirical studies were conducted on a group of 13 employee-owned companies from the Mazowieckie Province, which concluded agreements with the State Treasury between the years 2000–2005 and covered a 10-year research period. The analysis of sales revenue and the degree of ownership concentration was made on the basis of hand-collected data from documents submitted by surveyed employee-owned companies in the National Court Register in the years between 2002–2017.
Conclusions: Presented results of the empirical research do not allow for full confirmation of the research hypothesis because employee-owned companies, in which DEA efficiency measures were lower than the average measure for all surveyed companies were characterized by the different average annual degree of ownership concentration.
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References
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