Nature and determinants of productivity growth of foreign subsidiaries in Central and East European countries |
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Authors: | Boris Majcen Slavo Radosevic Matija Rojec |
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Affiliation: | 1. Institute for Economic Research, Kardeljeva plo??ad 17, SI-1000 Ljubljana, Slovenia;2. University College London, School of Slavonic and East European Studies, 16 Taviton Street, London WC1H 0BW, United Kingdom;3. University of Ljubljana and Institute of Macroeconomic Analysis and Development, Kardeljeva plo??ad 5, SI-1000 Ljubljana, Slovenia |
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Abstract: | The paper examines the determinants of productivity growth in foreign manufacturing subsidiaries in five Central and East European (CEE) countries by analysing patterns of control, nature of firms’ capabilities and firms’ market orientations. Building on the so-called ‘subsidiary development’ perspective, we show that productivity growth is determined jointly by corporate governance, production capability and market orientation variables. Within a dominantly production-oriented mandate, CEE subsidiaries have a relatively high level of autonomy in the control of their business functions. Majority foreign equity shareholding has a significant and positive impact on subsidiaries’ productivity growth. Our results show strong regional characteristics. |
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