Institutions and Firms' Productivity: Evidence from Electricity Distribution in the EU
研究了内部制度（所有权）和外部制度（政府质量）如何共同影响欧盟16国电力配送企业的全要素生产率，发现政府质量低时公有制企业生产率更低，政府质量高时公有制企业生产率更高。
Abstract Firms' productivity is influenced by internal and external institutions. Ownership is the core internal institutional feature of the firm, while the most important external institutional feature is the quality of government, which shapes the environment in which firms operate. We explore the relative role of these factors and their interaction in determining total factor productivity of electricity distribution firms in 16 EU countries. Using data from the Amadeus database of balance‐sheet information and from the Quality of Governance database, we find that when the quality of government is poor, public ownership is associated with lower productivity levels; however, public ownership is associated with higher productivity in countries characterized by higher quality of the institutional environment.