WHAT DETERMINES THE SCALE OF STATE OWNERSHIP IN ENTERPRISES? SOME EVIDENCE FROM POST-SOCIALIST COUNTRIES
WHAT DETERMINES THE SCALE OF STATE OWNERSHIP IN ENTERPRISES? SOME EVIDENCE FROM POST-SOCIALIST COUNTRIES

Summary/Abstract: State-owned enterprises still play an important role in many countries aroundthe world. The aim of this research is to indicate which factors had a significant impacton the scale of state ownership in enterprises in the group of twenty eight post-socialistcountries. The large scale privatisation indicator from the EBRD and the novel microlevel-based SOE measure were regressed on sets of cultural, political, economic andcontrol variables. The results show that cultural factors—represented by the dominantreligion—had a substantial impact on the scale of state ownership in enterprises whilethe role of political and economic factors was less pronounced. These results emphasisethe importance of cultural factors in shaping the scale of state ownership in enterprises.This study contributes to the literature by analysing factors influencing thescale of state ownership in enterprises in contemporary economic conditions whichhas been missing until now.

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