Springer published a monograph with a chapter of A. Kubíček and O. Machek

Book title: Corporate Governance in Central Europe and Russia: Framework, Dynamics, and Case Studies from Practice

Chapter contents: The contribution Ownership Concentration and Performance of Privately-Held Firms with Multiple Owners and the Moderating Effect of Managerial and Corporate Ownership: Evidence from Post-Socialist European Countries is the very first chapter of the book. It examines the relationship between ownership concentration and performance of privately-held firms with multiple owners in a stratified random sample of 4500 Czech, Slovak and Polish firms. Based on hierarchical regression analysis on data from 2009–2013, the results indicate the existence of an inverted U-shaped relationship between ownership concentration and performance. Corporate ownership and managerial ownership have both significant moderating effects on this relationship. If a large part of shares is held by corporate owners, firms will perform better when ownership concentration is high, and if owners strongly participate in management, firms will perform better when ownership concentration is low.

Suggested Citation: Kubíček, A., & Machek, O. (2020). Ownership Concentration and Performance of Privately-Held Firms with Multiple Owners and the Moderating Effect of Managerial and Corporate Ownership: Evidence from Post-Socialist European Countries. In: Aluchna, M., Idowu, S. O., & Tkachenko, I., Corporate Governance in Central Europe and Russia (pp. 11-31). Cham : Springer International Publishing.