Ownership structure and firm export performance: evidence from Slovenian microdata

This paper combines two very distinct strands of literature, firm-level trade analysis and studies on the impact of ownership structure. I explore the correlation between firm ownership structure and its engagement in external trade using data for the population of Slovene enterprises between 2005 and 2012. The estimates indicate that concentrated firm ownership is more conducive to firms being exporters. Even after controlling for firm type, age, ownership type and ownership stability in addition to the full set of covariates accounting for exporting status, firms with a smaller number of owners and more concentrated ownership are found more likely to be exporters. Results prove to be robust to changes in definitions and econometric approach. These findings fully support the inclusion of ownership structure variables in firm-level trade analysis as one of the core determinants of exporting success.