The differentiation of economic efficiency within employee-owned companies
The differentiation of economic efficiency within employee-owned companies

Summary/Abstract: Background: The empirical research on the differentiation of economic efficiency within em¬ployee-owned companies as measured in terms of sales revenue while minimizing the degree of ownership concentration thematically applies toward evaluating the effectiveness of the direct privatisation method implemented by giving a state-owned enterprise for use against payment. Research purpose: The main goal of this article is to empirically verify the research hypothesis, stating that the degree of ownership concentration significantly differentiates the economic effi¬ciency of employee-owned companies in terms of sales revenue. Methods: The empirical verification of this hypothesis was carried out using the method of Data Envelopment Analysis (DEA), which measures the relative technical efficiency of a given deci¬sion-making unit (DMU). Empirical studies were conducted on a group of 13 employee-owned companies from the Mazowieckie Province, which concluded agreements with the State Treasury between the years 2000–2005 and covered a 10-year research period. The analysis of sales reve¬nue and the degree of ownership concentration was made on the basis of hand-collected data from documents submitted by surveyed employee-owned companies in the National Court Register in the years between 2002–2017. Conclusions: Presented results of the empirical research do not allow for full confirmation of the research hypothesis because employee-owned companies, in which DEA efficiency measures were lower than the average measure for all surveyed companies were characterized by the differ¬ent average annual degree of ownership concentration.

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