Ownership Structure and Enterprise Restructuring in Poland

Dominant Ownership and Restructuring Indicators

Source: World Bank survey, excerpted in EBRD Table 8.8.

This table shows how restructuring outcomes vary by the type of dominant enterprise owner. The data are from a World Bank survey of 208 Polish manufacturing enterprises. An ownership type is classified as dominant ownership type for an enterprise if it owns more than 50% of the enterprises' shares. There may be dispersed ownership among owners of a particular type. Such dispersal would be expected to reduce restructuring incentives.

The table shows a relatively weak relationship between ownership type and restructuring indicators. For example, foreign enterprises show the highest real wage growth while real wages are stagnant in state-dominated firms and de novo firms. However, foreign and state dominated enterprises have relatively sharp drops in employment, while employment in de novo firms increased sharply. Other such contrasts are apparent in the table.

Enterprise Restructuring in the FSU