The Czech Republic, the Eastern European country that has pursued mass privatization most actively and credibly, has also done best in restructuring its industries and reorienting them toward world markets. Countries that pursued a gradualist approach - Hungary being the main example - have...

The fall of the Soviet Union brought new enterprise opportunities whose exploitation required the development of entirely new strategies. Simultaneously, enterprises faced crucial constraints in their governance structures. This paper analyzes the impact of governance structures of privatizes...