Transition from socialist to market economy brought drastic changes on the Hungarian labour market. Employment fell by 1.6m, i.e., by more than 25% during the past decade, while unemployment jumped from practically nil to over 14% within four years. This paper describes the changes in corporate...

One of the major tasks facing a transition economy is to create the competitive environment of a properly functioning market economy. It is widely believed that competition has a positive effect on efficiency, but the theoretical and empirical support is quite scarce. The objective of this paper...

Labour market and financial information is combined to explore the effect of the quality of labour employed on the profitability of the firm. The quality of labour is measured as the portion of wage differentials that cannot be explained by the human capital model. Profitability of Hungarian...