through 2000. We find that governments do not relinquish control after "privatization." We show that the market-to-book ratios …

Mass privatization offers a particularly suitable framework to study the change in ownership concentration as the … extent of change is unusual for a stable market economy. Focusing on two different mass privatization schemes in two … transition economies, Poland and the Czech Republic, we find that despite important differences in the design of the two …

Critics of privatization argue that poor labor force restructuring is a key concern and that governments should … owners after privatization. Our results show that adverse selection plagues retrenchment programs carried out by governments … before privatization. Controlling for endogeneity, several labor retrenchment policies yield a negative impacton net …

) and dividend policy in Poland. Our empirical approach, constructs measures of the quality of the corporate governance for …

This paper analyses the changes in the size distribution of wages in Poland over a decade of transition. Until about …