Bearer Shares in Paper Form and Public Procurement
Bibliographic Data
| ID | 10713655 |
|---|---|
| Authors | Jana Chvalkovská, Petr Janský (0000-0003-3159-0958), Jiří Skuhrovec (0000-0002-7691-5990, Volunteers of America Oregon) |
| Year | 2012 |
| Volume | 60 |
| Issue | 3 |
| Pages | 349-361 |
| Publication date | 2012-06-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Politická ekonomie (JOURNAL) |
| Journal identifiers | ISSN: 0032-3233 • E-ISSN: 2336-8225 |
| Publisher | Prague University of Economics and Business (PUBLISHER • CZ) |
| DOI | 10.18267/j.polek.846 |
| OpenAlex | W2315693745 |
| Language | EN |
| References cited | 14 |
This article examines for the first time the relationship between transparency of ownership structure and (i) profits of firms winning public procurement contracts and (ii) competition for the contracts and savings of the public authority. These characteristics are compared for two groups of public procurement contract winners that differ by their ownership structure. The detailed data from the Czech Republic are used and the firms with bearer shares in paper form serve as the less transparent firms. The results show that less transparent firms have significantly higher profit margins in terms of tens of percentage points and participate in less competitive public procurement contracts and result into lower savings for the public authority. This could be an indirect indicator of conflict of interests or corruption. The article concludes with policy recommendations
Business · Call for bids · Competition (biology) · Czech · Economics · Industrial organization · Language change · Market economy · Microeconomics · Procurement · Profit (economics) · Public ownership · Transparency (behavior) · Accounting · Auditing, Earnings Management, Governance · Corporate Finance and Governance · Finance · Law · Marketing · Public Procurement and Policy
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| Citation velocity | historical |
|---|---|
| Highly cited | No |