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Mass Privatisation, Corporate Governance and Endogenous Ownership Structure

Grosfeld, Irena; Hashi, Iraj - William Davidson Institute, University of Michigan - 2003

privatization: the Czech voucher scheme and the Polish program of National Investment Funds. Despite important differences in …

Persistent link: https://www.econbiz.de/10005677549

Determinants of Financial Distress: What Drives Bankruptcy in a Transition Economy? The Czech Republic Case

Lízal, Lubomír - William Davidson Institute, University of Michigan - 2002

does not receive support in the ownership but the indicator of voucher privatization supports it. The initial conditions … from early 90's were not the driving the financial distress. The voucher-scheme privatization results in poorer corporate …

Persistent link: https://www.econbiz.de/10005784676

What Makes Small Firms Grow? Finance, Human Capital, Technical Assistance, and the Business Environment in Romania

Brown, J. David; Earle, John S.; Lup, Dana - William Davidson Institute, University of Michigan - 2004

a survey of 297 new small enterprises in Romania containing detailed information from the startup date through 2001. We …

Persistent link: https://www.econbiz.de/10005784674

Subduing High Inflation in Romania. How to Better Monetary and Exchange Rate Mechanisms?

Daianu, Daniel; Vranceanu, Radu - William Davidson Institute, University of Michigan - 2001

Romania's overall economic performance during the first ten years of transition can be termed so far as disappointing …

Persistent link: https://www.econbiz.de/10005652669

From Workers to Owners: Survey Evidence on the Impact of Property Rights Reforms on Small Farmers in Two Regions in Romania

Vidican-Sgouridis, Georgeta; Kim, Annette - William Davidson Institute, University of Michigan - 2008

In Romania, the 1991 Land Reform marked the beginning of a series of transformations in the ownership structure and the …

Persistent link: https://www.econbiz.de/10005677511

The Impact on Structural Reforms on Employment Growth and Labour Productivity: Evidence from Bulgaria and Romania

Dimova, Ralitza - William Davidson Institute, University of Michigan - 2003

net job creation at the firm level was affected by privatization in Bulgaria, privatization in Romania did not have any …Using firm-level data from Bulgaria and Romania, this paper addresses a lacuna in the transition literature, namely …, resources moved from less productive firms to more productive firms in almost all industries, but that in Romania such a …

Persistent link: https://www.econbiz.de/10005677589

Equilibrium Exchange Rates in Southeastern Europe, Russia, Ukraine and Turkey: Healthy or (Dutch) Diseased?

Égert, Balázs - William Davidson Institute, University of Michigan - 2005

Romania), of two CIS economies (Russia and Ukraine) and of Turkey. A systematic approach in terms of different time horizons …

Persistent link: https://www.econbiz.de/10005677613

Financial Efficiency and the Ownership of Czech Firms

Kocenda, Evzen; Hanousek, Jan; Masika, Michal - William Davidson Institute, University of Michigan - 2011

In this paper we analyze the evolution of firm financial efficiency in the Czech Republic. Using a large panel of more than 400,000 Czech firm/years we study whether firms fully utilize their resources, how firm financial efficiency evolves over time, and how firm financial efficiency is...

Persistent link: https://www.econbiz.de/10010545914

Ownership concentration & firm performance: Evidence from an emerging market

Grosfeld, Irena - William Davidson Institute, University of Michigan - 2006

The initial view of the advantages of ownership concentration in joint stock companies was determined by the concern about the opportunistic managerial behavior. The growing importance of knowledge and human capital in the operation of firms shifts the focus of concern: excessive ownership...

Persistent link: https://www.econbiz.de/10005784634

Government Shareholding and the Value of China's Modern Firms

Tian, Lihui - William Davidson Institute, University of Michigan - 2001

This paper documents the ultimate shareholding structures of 826 corporations listed on China's stock market and finds large equity holdings of the government. Using a panel data set, this paper further finds that corporate value decreases with an increased size of government shareholding when...

Persistent link: https://www.econbiz.de/10005784758