In this paper, we use a production function approach to examine the impact of ownership concentration, product market competition and financial pressure on German firm productivity. Additionally, we are interested in the influence of ownership identity and changes in ownership structure. We also test whether the specificity of assets affects productivity performance. Based on a panel of 361 German ...
The paper presents study of corporate governance evolution in Bulgaria and its convergence to EU structures. The author discusses the traditional approach to separation of ownership and control in transition economies and modern ideas about the need for changing corporate governance paradigm. The study analyses main ownership and control structures in the Bulgarian industry and specific property-rights ...
In a framework with an upstream monopoly and a downstream duopoly, we analyze the impact of convex costs on the downstream level. In constrast to the case of constant marginal costs, vertical integration does not imply complete market foreclosure. While the nonintegrated downstream ¯rm receives a strictly positive amount of the intermediate good, the downstream allocation is ine±cient. However, a parametrized ...