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Learning by Bidding: Evidence from a Large-Scale Natural Experiment

Hanousek, Jan; Kocenda, Evzen - Center for Economic Research and Graduate Education and … - 2005

Learning is a subject of intense research in experimental economics. We contribute to this debate by presenting persuasive evidence that learning took place among uninformed heterogeneous agents on a quasi-stock market during a large-scale natural experiment that by size, incentives, and...

Persistent link: https://www.econbiz.de/10005146552

Financial Efficiency and the Ownership of Czech Firms

Kocenda, Evzen; Hanousek, Jan; Masika, Michal - William Davidson Institute, University of Michigan - 2011

In this paper we analyze the evolution of firm financial efficiency in the Czech Republic. Using a large panel of more than 400,000 Czech firm/years we study whether firms fully utilize their resources, how firm financial efficiency evolves over time, and how firm financial efficiency is...

Persistent link: https://www.econbiz.de/10010545914

Direct and indirect effects of FDI in emerging European markets: A survey and meta-analysis

Hanousek, Jan; Kocenda, Evzen; Maurel, Mathilde - In: Economic Systems 35 (2011) 3, pp. 301-322

We review a large body of literature dealing with the effects of Foreign Direct Investment (FDI) on economies during their transformation from a command economic system toward a market system. We report the results of a meta-analysis based on the literature on externalities from FDI. The studies...

Persistent link: https://www.econbiz.de/10009275497

Firm Efficiency: Domestic Owners, Coalitions, and FDI

Hanousek, Jan; Kocenda, Evzen; Masika, Michal - Center for Economic Research and Graduate Education and … - 2012

In this paper we analyze the evolution of firm efficiency in the Czech Republic. Using a large panel of more than 190,000 Czech firm/years we study whether firms fully utilize their resources, how firm efficiency evolves over time, and how firm efficiency is determined by ownership structure. We...

Persistent link: https://www.econbiz.de/10010842908

Divestitures, privatization and corporate performance in emerging markets

Hanousek, Jan; Kocenda, Evzen; Svejnar, Jan - In: The economics of transition 17 (2009) 1, pp. 43-74

Persistent link: https://www.econbiz.de/10008160810

The impact of Czech mass privatisation on corporate governance

Hanousek, Jan; Kocenda, Evzen - In: Journal of economic studies 30 (2003) 3, pp. 278-293

Persistent link: https://www.econbiz.de/10007654069

Origin and concentration

Hanousek, Jan; Kocenda, Evzen; Svejnar, Jan - In: The economics of transition 15 (2007) 1, pp. 1-32

Persistent link: https://www.econbiz.de/10007590855

Spinoffs, Privatization and Corporate Performance in Emerging Markets

Hanousek, Jan; Kocenda, Evzen; Svejnar, Jan - William Davidson Institute, University of Michigan - 2004

We use new firm-level data to examine the effects of spinoffs and privatization on corporate performance in a rapidly emerging market economy. Unlike the existing literature, which analyzes spinoffs almost exclusively in advanced economies, we control for accompanying ownership changes and the...

Persistent link: https://www.econbiz.de/10005784623

The reaction of asset prices to macroeconomic announcements in new EU markets: Evidence from intraday data

Hanousek, Jan; Kocenda, Evzen; Kutan, Ali M. - In: Journal of Financial Stability 5 (2009) 2, pp. 199-219

We estimate the impact of macroeconomic news on composite stock returns in three emerging European Union financial markets (the Budapest BUX, Prague PX-50, and Warsaw WIG-20), using intraday data and macroeconomic announcements. Our contribution is twofold. We employ a larger set of...

Persistent link: https://www.econbiz.de/10004964170

Direct and Indirect Effects of FDI in Emerging European Markets: A Survey and Meta-analysis

Hanousek, Jan; Kocenda, Evzen; Maurel, Mathilde - William Davidson Institute, University of Michigan - 2010

Persistent link: https://www.econbiz.de/10008529033