The authors argue that mass privatization in the Czech Republic has spurred enterprise restructuring and that investment funds have played a key part in this outcome. Using 1992-95 data for more than 700 Czech firms, the authors find strong positive relationships between ownership concentration...

The Czech Republic's mass-privatization scheme improved the management of privatized firms by concentrating ownership. And contrary to expectations, banks with an (indirect) equity stake in a privatized firm have a positive influence on the firm's corporate governance. The Czech Republic's...

Firm-level data for the Czech Republic during 1992-96 suggest that foreign investment has tended to flow to firms of above average size, initial profitability and initial labor productivity. After controlling for this selection bias, we find that foreign investment has a positive, but...