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Reconstitution of Post-Soviet Ex-State Enterprises into Russian Business Firms under Institutional Weaknesses

Adachi, Yuko - Centre for the Study of Economic and Social Change in … - 2005

The paper provides an interpretation of the transformation of post-soviet Russian enterprises from the resource-based perspective of the firm in the context of institutional change. Based on the resource-based perspective, which conceptualises a firm as a collection of resources embedded in...

Persistent link: https://www.econbiz.de/10005868165

Privatisation, Corporate Control and Employment Growth:Evidence From A Panel of Large Polish Firms, 1996-2002

Mickiewicz, Tomasz; Bishop, Kate; Gerry, Christopher J - Centre for the Study of Economic and Social Change in … - 2005

Using panel data on large Polish firms this paper examines the relationship between corporatecontrol structures, sales growth and the determinants of employment change during the period 1996-2002. We find that privatised and de novo firms are the main drivers of employment growth andthat, in the...

Persistent link: https://www.econbiz.de/10005868174

CORPORATE CONTROL AND GOVERNANCE PRACTICES IN RUSSIA

Iji, Yuko - Centre for the Study of Economic and Social Change in … - 2003

In Russia, the problem of corporate governance has become a frequent subject fordiscussion. Stories now abound about questionable corporate governance practices, suchas share dilution, asset stripping, transfer pricing, complex ownership structures, limitingshareholders from attending the...

Persistent link: https://www.econbiz.de/10005868234

Corporate Governance and Industrial Relations in Poland

Federowicz, Michał - Centre for the Study of Economic and Social Change in … - 2003

The paper discusses Polish privatisation from the industrial relations point of view. Itfocuses on the role of trade unions and workers councils in the privatisation process.Two polar privatisation blueprints are identified: those aiming at competitive ‘atomistic’firms and those, which...

Persistent link: https://www.econbiz.de/10005868235

Corporate Governance and Stock Market Performance in Centraland Eastern Europe: A Study of nine countries, 1994-2001

Pajuste, Anete - Centre for the Study of Economic and Social Change in … - 2002

This paper offers analysis of corporate governance issues behind the stock market performance(stock returns and activity) in nine Central and Eastern European (CEE) countries: the CzechRepublic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, Slovakia and Slovenia. Overthe period June 1994...

Persistent link: https://www.econbiz.de/10005868241

Ownership Structure and the Operating Performanceof Hungarian Firms

Campbell, Kevin - Centre for the Study of Economic and Social Change in … - 2002

This paper uses firm-level data on 162 large Hungarian enterprises to analyse the relationship betweenownership structure and corporate performance in 1998 and 1999. Cross-sectional regressions are runfor each of these years using the return on assets (ROA) as the measure of performance. Both...

Persistent link: https://www.econbiz.de/10005868253

Changes in Corporate Governance Structures inPolish Privatised Companies

Kozarzewski, Piotr - Centre for the Study of Economic and Social Change in … - 2002

The paper presents early results of the survey of 84 Polish privatised industrial companies, sampled from a list of the 500 biggest firms. Three aspects of corporate governance were analysed: ownership structure, management of the companies, and supervision structures. An attempt was made to...

Persistent link: https://www.econbiz.de/10005868254

“Ownership Concentration, ‘Private Benefits of Control’and Debt Financing

Filatotchev, Igor; Mickiewicz, Tomasz - Centre for the Study of Economic and Social Change in … - 2001

Building on the ‘law and economics’ literature, this paper analyses corporategovernance implications of debt financing in an environment where a dominant owner isable to extract ex ante ‘private benefits of control’. Ownership concentration may result inlower efficiency, measured as a...

Persistent link: https://www.econbiz.de/10005868255

Time-Varying Credit Riskand Liquidity Premia inBond and CDS Markets

Bühler, Wolfgang; Trapp, Monika - Universität <Mannheim> / Behavioral Finance Group; … - 2009

component, a pure liquidity component, and a component measuring therelation between credit risk and liquidity. CDS liquidity … has important consequences for the bondcredit risk and liquidity components. Besides the credit risk link, we document a … liquidity linkbetween the bond and the CDS market. Liquidity in both markets dries up as credit risk increases,and higher bond …

Persistent link: https://www.econbiz.de/10005867856