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Incentives and the Management of Enterprises in Economic Transition: Capital Markets Are Not Enough
Mayhew, Ken; Seabright, Paul - C.E.P.R. Discussion Papers - 1992
This paper examines the changing incentives for the efficient management of firms in Eastern Europe. It contrasts the internal constitution of the firm (its governance and reward structures) with the various constraints imposed on the firm's activities by external conditions in capital, labour...
Persistent link: https://www.econbiz.de/10005124125
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The Structure of Corporate ownership in Privatized Utilities
Trillas, Francesco - C.E.P.R. Discussion Papers - 2002
how deregulation affects corporate structure. In the benchmark case where the government maximizes privatization proceeds …
Persistent link: https://www.econbiz.de/10005123598
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The Political Economy of Finance
Pagano, Marco; Volpin, Paolo - C.E.P.R. Discussion Papers - 2002
The regulations that shape the design and the operations of corporations, credit and securities markets differ vastly from country to country. In addition, similar regulations are often unequally enforced in different countries. Economists still have an imperfect understanding of why these...
Persistent link: https://www.econbiz.de/10005124338
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After Voucher Privatization: The Structure of Corporate Ownership in Russian Manufacturing Industry
Earle, John S; Estrin, Saul - C.E.P.R. Discussion Papers - 1997
This paper analyses the ownership structure emerging from the Russian privatization process, using information from a … privatization methods for ownership structure, on the incidence of non-voting and voting shares, and on the extent of concentration …) estimates, suggesting that the privatization process may have contained a negative selection bias with respect to ownership by …
Persistent link: https://www.econbiz.de/10005136416
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Ownership and Corporate Control in Poland: Why State Firms Defied the Odds
Pinto, Brian; van Wijnbergen, Sweder - C.E.P.R. Discussion Papers - 1995
We present evidence of major adjustment efforts in the State sector in Poland well before privatization. Extensive …
Persistent link: https://www.econbiz.de/10005497734
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Fire the Manager to Improve Performance? Managerial Turnover and Incentives After Privatization in the Czech Republic
Fidrmuc, Jan; Fidrmuc, Jana - C.E.P.R. Discussion Papers - 2004
performance after privatization in the Czech Republic. We find weak evidence for the presence of managerial incentives: only in … 1997, three to four years after privatization, does poor performance significantly increase the probability of managerial …
Persistent link: https://www.econbiz.de/10005792419
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Defensive and Strategic Restructuring in Central European Enterprises
Grosfeld, Irena; Roland, Gérard - C.E.P.R. Discussion Papers - 1995
This paper interprets the existing evidence on enterprise restructuring in Poland, Hungary and the Czech Republic. Despite differences in restructuring policies, the pattern of observed restructuring appears similar in the three countries. Contrary to initial expectations, managers of SOEs have...
Persistent link: https://www.econbiz.de/10005662184
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The Determinants of Privatized Enterprise Performance in Russia
Angelucci, Manuela; Bevan, Alan; Estrin, Saul; Fennema, … - C.E.P.R. Discussion Papers - 2002
Using data from a large enterprise-level panel designed to address this issue, we account for enterprise performance in Russia. We link performance to four aspects of the economic environment outlined in the literature: enterprise ownership; corporate governance; market structures and competition;...
Persistent link: https://www.econbiz.de/10005666814
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Entry Barriers in Retail Trade
Schivardi, Fabiano; Viviano, Eliana - C.E.P.R. Discussion Papers - 2008
The 1998 reform of the Italy's retail trade sector delegated the regulation of entry of large stores to the regional governments. We use the local variation in regulation to determine the effects of entry barriers on firms' performance for a representative sample of retailers. We address the...
Persistent link: https://www.econbiz.de/10005661440
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Can Small Entry Barriers Have Large Effects on Competition?
Seabright, Paul - C.E.P.R. Discussion Papers - 1990
One of the main aims of the deregulation of previously heavily regulated markets is to diminish artificial barriers to entry. But in oligopolistic markets, the mechanisms whereby potential competition can discipline the behaviour of incumbent firms are not very well understood, especially since...
Persistent link: https://www.econbiz.de/10005661862