Journal of Productivity Analysis

, Volume 25, Issue 1, pp 143–157

Corporate Governance and Firm’s Efficiency: The Case of a Transitional Country, Ukraine


DOI: 10.1007/s11123-006-7136-8

Cite this article as:
Zelenyuk, V. & Zheka, V. J Prod Anal (2006) 25: 143. doi:10.1007/s11123-006-7136-8


In this study, we look for empirical support for the hypothesis that there is a positive relationship between the levels of corporate governance quality across firms and the relative efficiency levels of these firms. This hypothesis is related to Leibenstein’s idea of X-efficiency. We use the data envelopment analysis (DEA) estimator to obtain proxies for X-[in]efficiency of firms in our sample and then analyze them with respect to different ownership structures by comparing distributions and aggregate efficiencies across different groups. We also use truncated regression with bootstrap, following Simar and Wilson Estimation and influence in two stage, semi-parametric models of production process, Simar and Zelenyuk (2003) to infer on relationship of inefficiency to various indicators of quality of corporate governance, ownership variables, as well as industry and year specific dummies. The data is coming from seven industries in Ukraine.


Corporate governance Efficiency DEA Ownership Ukraine 

JEL Classification

C24 D24 G30 P27 

Copyright information

© Springer Science+Business Media, Inc. 2006

Authors and Affiliations

  1. 1.Institut de StatistiqueUniversité Catholique de LouvainLouvain-la-NeuveBelgium
  2. 2.UPEG (Ukrainian Productivity and Efficiency Group)EROC of EERC-Kiev at the National University “Kyiv-Mohyla Academy”KievUkraine
  3. 3.Lviv Academy of CommerceLvivUkraine

Personalised recommendations