Performance of industrial companies after ownership transformation

Abstract

Koristeći pristup kroz totalnu faktorsku produktivnost (TFP) u radu su empirijski određene razlike u ekonomskoj efikasnosti privatnih industrijskih preduzeća u Srbiji. Na panel uzorku od 567 firmi u periodu 2005-2007 utvrđeno je da su firme u većinskom stranom vlasništvu, izvozno orjentisane i novoformirane firme imale za 18%, 37% i 26% veću produktivnost od prosečne produktivnosti na teritoriji Srbije. Regionalno posmatrano najveće razlike u produktivnosti po osnovu stranog vlasništva utvrđene su na području Centralne Srbije dok su izvozno orjentisane i novoformirane firme bile najefikasnije na području Beograda. .

Using the total factor productivity (TFP) approach we empirically estimated the differences in economic efficiency of private industrial firms in Serbia. On the panel data from a sample of 567 companies in the period 2005-2007, it was found that majority-foreign owned companies, as well as export-oriented and newly-founded private firms recorded higher productivity than the average in Serbia by 18%, 37% and 26% respectively. From the regional aspect, the biggest differences in productivity resulting from foreign capital ownership are seen in the region of Central Serbia, whereas export-oriented and newly-founded firms were most efficient in the area of Belgrade. .