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A castle built on sand: The effects of mass privatization on stock market creation in transition economies
Fungacova, Zuzana; Hanousek, Jan - Siirtymätalouksien tutkimuslaitos, Suomen Pankki - 2006
This paper deals with the relationship between mass privatization and stock market development in transition economies … the hypothesis that mass privatization exerted a negative influence on stock market functioning over the short and medium … term. Further, it appears that stock markets in countries with mass privatization were initially perceived as mere …
Persistent link: https://www.econbiz.de/10005419586
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Extent of the Integrated State Ownership and Effect of the State Control on Performance of Czech Firms
Hanousek, Jan; Kočenda, Evžen - In: Politická ekonomie 2011 (2011) 1, pp. 82-104
We analyze the extent of the integrated state control over the privatized companies in the Czech Republic during the decade of 1995-2005. During this period, the integrated potential of the state to control companies had a pyramid-like form. Even though the pyramid control was not fully...
Persistent link: https://www.econbiz.de/10008876460
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Divide and Privatize: Firm Break-up and Performance
Kocenda, Evžen; Hanousek, Jan - CESifo - 2011
We analyze the long-term effects of firm break-up and ownership change on corporate performance. Our analysis is based on a unique data set for a large number of Czech firms spanning the period 1996–2005. We employ a propensity score matching procedure to deal with endogeneity problems. Our...
Persistent link: https://www.econbiz.de/10009024846
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Effect of the Czech Firms Break-Up on their Profitability and Productivity
Kočenda, Evžen; Hanousek, Jan - In: Politická ekonomie 2011 (2011) 5, pp. 579-598
In this article we analyze medium- and long-term effects of firm break-up (and subsequent change in ownership) on its profitability and productivity. We use an extensive data-set of the Czech firms for the period 1996-2005. We employ the propensity score based matching methodology to account for...
Persistent link: https://www.econbiz.de/10009368420
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Divide and Privatize : Firms Break-up and Performance
Kočenda, Evžen; Hanousek, Jan - Institut für Ost- und Südosteuropaforschung (IOS) - 2010
We analyze the long-term effects of divesture and ownership change on corporate per-formance. We employ a unique data set for a large number of Czech firms spanning the period 1996–2005. We employ a propensity score matching procedure to deal with endogeneity problems. Our results, which are...
Persistent link: https://www.econbiz.de/10008685281
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Control potential of the state in privatized firms
Hanousek, Jan; Kočenda, Evžen - In: Politická ekonomie 2008 (2008) 4, pp. 467-483
The privatization strategy in many transition economies involved the creation of a special government agency that … administered state property during privatization programs as well as after the privatization was declared complete. The National … privatization was completed. We analyze the control potential of the state exercised through the FNM via the control rights …
Persistent link: https://www.econbiz.de/10008754969
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Firm break-up and performance
Kocenda, Evzen; Hanousek, Jan - In: Economics of Governance 13 (2012) 2, pp. 121-143
Persistent link: https://www.econbiz.de/10010848610
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Determinants of Firm Delisting on the Prague Stock Exchange
Fungáčová, Zuzana; Hanousek, Jan - In: Prague Economic Papers 2011 (2011) 4, pp. 348-365
This research investigates the emergence of stock market in the Czech Republic. We use Czech mass privatization as an … if certain pre-privatization and privatization characteristics of the companies had been taken into account when deciding … which companies to place on the stock exchange for public trading following the mass privatization. This result has …
Persistent link: https://www.econbiz.de/10009492797
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State ownership and control in the Czech Republic
Kočenda, Evžen; Hanousek, Jan - In: Economic Change and Restructuring 45 (2012) 3, pp. 157-191
We analyze the extent of the integrated control of the state over privatized firms during the post-privatization decade …
Persistent link: https://www.econbiz.de/10010988807
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State ownership and control in the Czech Republic
Kocenda, Evézen; Hanousek, Jan - 2009
We analyze the extent of the integrated control of the state over privatized firms during the post-privatization decade …
Persistent link: https://www.econbiz.de/10010265983