The authors argue that mass privatization in the Czech Republic has spurred enterprise restructuring and that …, the higher the firm's market value. They argue that these two results suggest that the Czech privatization program was …

The Czech Republic's mass-privatization scheme improved the management of privatized firms by concentrating ownership … firm's corporate governance. The Czech Republic's mass-privatization scheme changed the governance of many firms in a short … time. Claessens, Djankov, and Pohl show that mass privatization was effective in improving firm management because of the …