In this paper, by employing a novel approach, we study the relationship between bank type and small-business lending in a post-transition country. Using a unique dataset on bank branches and firm-level data, we find that local cooperative banks lend more to small businesses than do large...

The Central European banking industry is dominated by foreign-owned banks. During the recent crisis, for the first time since the transition, foreign parent companies were frequently in worse financial conditions than their subsidiaries. This situation created a unique opportunity to study new...

In recent years the number of going private transactions has sharply increased in emerging markets. The purpose of this study is to establish the financial characteristics of companies that have gone private using a dataset comprising of Polish companies. We use a probit model to distinguish the...

This article reviews the state's role in the transition economies of Central and Eastern Europe. Among the countries, Poland is perceived as the leader because it was the first economy to emerge from the decline following the transition, as well the only EU member state to survive the crisis...

This paper investigates whether foreign subsidiaries outperform their parent banks in terms of profitability and what determines this outcome. Using a large sample of multinational banks and their subsidiaries in a large number of countries, this study shows that, on average, foreign...

In the last fifteen years foreign banks have expanded their presence significantly in almost all developing economies. The transition countries are among those economies that have experienced one of the highest levels of banking internationalization in the world. The foreign controlled banking...

The aim of this study was to examine the motives of foreign direct investment (FDI) of Polish enterprises. Our studies have confirmed that the market seeking and – to a lesser extent – resource seeking motives are most important for Polish companies investing abroad. The search for...

This study examines the relation between corporate governance practices measured by Transparency Disclosure Index (TDI) and dividend policy in Poland. Our empirical approach, constructs measures of the quality of the corporate governance for 110 non-financial companies listed on Warsaw Stock...