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Andreyeva, Tatiana (2003) Company performance in Ukraine: What governs its success, Working Paper No. 03/01, Economics Education and Research Consortium (EERC): Moscow.

Ankudinov, Andrei B. and Oleg V. Lebedev (2016) Dividend payouts and company ownership structure amid the global financial crisis: Evidence from Russia, Post-Communist Economies, 28(3), 384-404.

Asaftei, Gabriel, Subal C. Kumbhakar and Dorin Mantescu (2008) Ownership, business environment and productivity change, Journal of Comparative Economics, 36(3), 498-509.

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Baghdasaryan, Delia and Lisbeth la Cour (2013) Competition, ownership and productivity: A panel analysis of Czech firms, Journal of Economics and Business, 69, 86-100.

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Bednarek, Ziemowit and Marian Moszoro (2014) The Arrow–Lind theorem revisited: Ownership concentration and valuation, Applied Financial Economics, 24(5), 357-375.

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Bhaumik, Sumon Kumar and Saul Estrin (2007) How transition paths differ: Enterprise performance in Russia and China, Journal of Development Economics, 82(2), 374-392.

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Cabeza-García, Laura and Silvia Gómez-Ansón (2011) Post-privatisation ownership concentration: Determinants and influence on firm efficiency, Journal of Comparative Economics, 39(3), 412430.

Claessens, Stijn and Simeon Djankov (1999) Ownership concentration and corporate performance in the Czech Republic, Journal of Comparative Economics, 27(3), 498-513.

Claessens, Stijn, Simeon Djankov and Larry H. P. Lang (2000) The separation of ownership and control in East Asian corporations, Journal of Financial Economics, 58(1/2), 81-112.

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da Cunha, Claudio M. P. and Patricia M. Bortolon (2016) The role of ownership concentration and debt in downturns: Evidence from Brazilian firms during the 2008–9 financial crisis, Emerging Markets Finance & Trade, 52(11), 2610–2623.

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Damijan, Jože P., Mark Knell, Boris Majcen and Matija Rojec (2003b) Technology transfer through FDI in top-10 transition countries: How important are direct effects, horizontal and vertical spillovers? Working Paper No. 549, William Davidson Institute, University of Michigan: Ann Arbor.

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Filatotchev, Igor, Johannes Stephan and Björn Jindra (2008) Ownership structure, strategic controls and export intensity of foreign-invested, Journal of International Business Studies, 39(7), 11331148.

Frye, Timothy (2017) Property Rights and Property Wrongs: How Power, Institutions and Norms Shape Economic Conflict in Russia, Cambridge University Press: Cambridge.

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Grosfeld, Irena and Thierry Tressel (2002) Competition and ownership structure: Substitutes or complements? Evidence for the Warsaw stock exchange, Economics of Transition, 10(3), 525-551.

Grygorenko, Galyna and Stefan Lutz (2007) Firm performance and privatization in Ukraine, Economic Change and Restructuring, 40(3), pp. 253-266.

Gugler, Klaus, Natalia Ivanova and Josef Zechner (2014) Ownership and control in Central and Eastern Europe, Journal of Corporate Finance, 26, 145-163.

Gul, Ferdinand A., Jeong-Bon Kim and Annie A. Qiu (2010) Ownership concentration, foreign shareholding, audit quality, and stock price synchronicity: Evidence from China, Journal of Financial Economics, 95(3), 425-442.

Hanousek, Jan, Evžen Kocenda and Jan Svejnar (2007) Origin and concentration: Corporate ownership, control and performance in firms after privatization, Economics of Transition, 15(1), 1-31.

Hanousek, Jan, Evžen Kocenda and Michal Mašika (2012) Firm efficiency: Domestic owners, coalitions, and FDI, Economic Systems, 36(4), 471-486.

Harper, Joel T. (2001) Short-term effects of privatization on operating performance in the Czech Republic, Journal of Financial Research, 24(1), 119-131.

Harper, Joel T. (2002) The performance of privatized firms in the Czech Republic, Journal of Banking and Finance, 26(4), 621–649.

Hu, Yabei and Shigemi Izumida (2008) Ownership concentration and corporate performance: A causal analysis with Japanese panel data, Corporate Governance: An International Review, 16(4), 342358.

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Iwasaki, Ichiro and Masahiro Tokunaga. (2016) Technology transfer and spillovers from FDI in transition economies: A meta-analysis, Journal of Comparative Economics, 44(4), 1086-1114. 21 Kočenda, Evžen and Jan Hanousek (2013) Pyramid state ownership and control in the Czech Republic, In: Hare, Paul and Gerard Turkey (eds.), Handbook of the Economics and Political Economy of Transition, Routledge: Abingdon and New York, pp. 284-295.

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Kočenda, Evžen and Ichiro Iwasaki (2018) Bank survival in European emerging markets, Discussion Paper No. A675, Institute of Economic Research, Hitotsubashi University: Tokyo.

Kočenda, Evžen and Jan Hanousek (2012) State ownership and control in the Czech Republic, Economic Change and Restructuring, 45(3), 157-191.

Koman, Matjaž, Ljubica Knežević Cvelbar, Andelko Lojpur and Janez Prašnikar (2011) Effects of ownership and management changes on productivity in privatized Montenegrin firms, Eastern European Economics, 49(3), 5-25.

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Kuznetsov, P. and A. Muravyev (2001a) Ownership concentration and firm performance in Russia: The case of blue chips of the stock market, Acta-Oeconomica, 51(4), 469-488.

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List of Literature Subject to Meta-analysis (in correspond with Table 1) Claessens, Stijn (1997) Corporate governance and equity prices: Evidence from the Czech and Slovak Republics, Journal of Finance, 52(4), 1641-1658.

Ma, Shiguang, Tony Naughton, Gary Tian (2010) Ownership and ownership concentration: Which is important in determining the performance of China’s listed firms? Accounting and Finance, 50(4), 871-897.

Ma, Xufei, Xiaotao Yao and Youmin Xi (2006) Business group affiliation and firm performance in a transition economy: A focus on ownership voids, Asia Pacific Journal of Management, 23(4), pp. 467-483.

Makhija, Anil K. and Michael Spiro (2000) Ownership structure as a determinant of firm value: Evidence from newly privatized Czech firms, Financial Review, 35(3), 1-32.

Maury, Benjamin and Eva Liljeblom (2009) Oligarchs, political regime changes, and firm valuation, Economics of Transition, 17(3), 411-438.

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Mueller, Dennis C. and Evgeni Peev (2007) Corporate governance and investment in Central and Eastern Europe, Journal of Comparative Economics, 35(2), 414–437.

Muravyev, Alexander (2017) Boards of directors in Russian publicly traded companies in 1998–2014: Structure, dynamics and performance effects, Economic Systems, 41(1), 5-25. Author(s) (publication year) Target country a Target industry Estimation period b

Muravyev, Alexander, Irina Berezinets and Yulia Ilina (2014) The structure of corporate boards and private benefits of control: Evidence from the Russian stock exchange, International Review of Financial Analysis, 34, 247-261.

Mykhayliv, Dariya and Klaus G. Zauner (2013) Investment behavior and ownership structures in Ukraine: Soft budget constraints, government ownership and private benefits of control, Journal of Comparative Economics, 41(1), 265-278.

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Omran, Mohammed M., Ali Bolbol and Ayten Fatheldin (2008) Corporate governance and firm performance in Arab equity markets: Does ownership concentration matter? International Review of Law and Economics, 28(2), 32-45.

Perotti, Enrico C. and Stanislav Gelfer (2002) Financial reallocation in Russian groups, In: Mayendorff, Anna and Anjan Thakor (eds.), Designing Financial Systems in Transition Economies: Strategies for Reform in Central and Eastern Europe, MIT Press: Cambridge, Mass.

Pivovarsky, Alexander (2003) Ownership concentration and performance in Ukraine’s privatized enterprises, IMF Staff Papers, 50(1), 10-42.

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Rojec, Matija, Jože P. Damijan and Boris Majcen (2004) Export propensity of Estonian and Slovenian manufacturing firms: Does foreign ownership matter? Eastern European Economics, 42(4), 33-54.

Sabirianova, Klara Peter, Jan Svejnar and Katherine Terrell (2012) Foreign investment, corporate ownership, and development: Are firms in emerging markets catching up to the world standard? 25 Review of Economics and Statistics, 94(4), 981-999.

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Shleifer, Andrei and Robert W. Vishny (1997) A survey of corporate governance, Journal of Finance, 52(2), 737-783.

Stanley, T. D. (2005) Beyond publication bias, Journal of Economic Surveys, 19(3), 309-345.

Stephan, Andreas, Andriy Tsapin, and Oleksandr Talavera (2012) Main bank power, switching costs, and firm performance: Theory and evidence from Ukraine, Emerging Markets Finance & Trade, 48(2), 76–93.

Tokunaga, Masahiro and Ichiro Iwasaki (2017) The determinants of foreign direct investment in transition economies: A meta-analysis, The World Economy, 40(12), 2771-2831.

Vanteeva, Nadia and Charles Hickson (2016) The effect of state-private co-partnership system on Russian industry, Review of Industrial Organization, 48(3), 333-356.

Wang, Kun and Greg Shailer (2015) Ownership concentration and firm performance in emerging markets: A meta-analysis, Journal of Economic Surveys, 29(2), 199-229.

Weiss, Christian and Stefan Hilger (2012) Ownership concentration beyond good and evil: Is there an effect on corporate performance? Journal of Management and Governance, 16(4), 727-752.

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