Using data from Estonian manufacturing firms during the period 1995-1999 we apply panel data techniques, in particular the Arellano-Bond (1991) method to investigate the investment behaviour. We employ the model of optimal capital accumulation in the presence of convex adjustment costs. We find...

Combining an agency perspective, a resource-based view and upper echelon research, this paper examines inter-links between executive characteristics, board structure and share ownership, and short-term performance of firms in a sample of initial public offerings (IPOs) in the UK. It argues that...

Using a data set for 162 largest Hungarian firms during the period of 1994-1999 this paper explores the determinants of equity shares held by both foreign investors and by Hungarian corporations. We find evidence of a post-privatisation evolution towards more homogeneous equity structures, where...

Alternative forms of disciplining the actionsof senior enterprise managers can becharacterized as shareholder or stakeholdergovernance. This paper analyzes thecontingencies that favour different forms ofgovernance and addresses the question: doesRussia need a stakeholder-oriented model...

Using panel data pertaining to large Polish (non-financial) firms this paper examines the determinants of employment change during the period 1996-2002. Paying particular attention to the asymmetry hypothesis we investigate the impact of own wages, outside wages, output growth, regional...

Using panel data on large Polish firms this paper examines the relationship between corporate control 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 and that, in...

This paper describes knowledge based entrepreneurship in the Czech Republic and Hungary, in particular the growth and development process of 4 firms are studied: Dekonta, an environmental services firm, Et netera, an IT services firm, both operating in Czech Republic, along with a data recovery...

Using a data set for 162 largest Hungarian firms during the period of 1994-1999 this paper explores the determinants of equity shares held by foreign investors and by Hungarian institutional investors.. We find evidence of a post-privatisation evolution towards more homogeneus equity structures,...