Changes in Hospital Financial Performance after Legal Form Conversion
|Author:||Mgr. Adam Jankura|
|Year:||2013 - summer|
|Leaders:|| Mgr. Henrieta Tulejová M.S.
|Work type:|| Finance, Financial Markets and Banking
|Awards and prizes:|
|Abstract:||This thesis examines the effect of corporatization, i.e. pure legal form conversion of contributory
organizations into joint-stock companies, on financial performance of 77 Czech non-privatized
general hospitals during 2001-2011. Using differences-in-differences estimation the effect on
overall financial performance was not confirmed. Regarding individual performance components
different changes in revenues and costs per inpatient day (relative to non-corporatized hospitals)
were recognized after different corporatizations periods. Both revenues and costs measures
either increased or decreased after 2003 & 2004 and 2005 corporatization respectively; and
were maintained after 2006 & 2007 period. Ambiguous effect of corporatization on financial
performance is consistent with the principal-agent theory developed in this thesis.