The paper shows that the standing of theory in the field of mergers and acquisitions is weak for at least three reasons. Research is best described as a battlefield of ad hoc theory testing leaving behind a fragmented field. Research has focused traditionally on high intensity markets under the...

The paper concentrates on economic developments; it does not treat issues related to domestic and foreign policy. It may well be the case that in the latter fields the trends are not encouraging, but these problems are beyond the focus of our paper. One of the major points we wish to demonstrate...

Article describes Central and East European Countries (CEEC) in which in the absence of capital market the performance of enteprises was determined by real variables, financial flows being adjusted to real flows. The lack of a full fledged financial system has often been identified as one of the...

This article describes privatization and denationalization program in the Republic of Kyrgyzstan which has been given high priority in the Government's agenda. This program has its origins in the privatization law drafted at the end of 1991 and adopted by President in January 1992. Initially the...

Public notion usually attributes superior qualities to foreign direct investments in transition economies. According to a common belief they are equipped with modern technology, possess up-to-date managerial capacities, use state-of-the-art management practices, are more effective than local...

How to assess Hungary's present situation in the broader context of overall economic and political developments in post-socialist Eastern Europe? The regional perspective suggests that in terms of parting with state socialism and building market democracy Hungary - and a few other countries...

We model a two-stage duopolistic competition in a vertically differentiated ekstern market between the eastern and western firms. In the first stage firms compete in R&D, and in the second stage in prices. Consumers in eastern market are distributed uniformy according to their income, and...

The paper provides perspective of recent developments in health care reforms in three fast-reforming transition economies: the Czech Republic, Hungary and Poland. The two former countries have been implementing reforms since early 1990s, while Poland started its reform on January 1, 1999 only....

This project analyzing the development of Polish financial markets sponsored by the USAID grant was aimed at examining selected problems of the banking system and financial markets in Poland. The main criterion for selection of these problems was their potential usefulness for policy-makers at...

Authors investigate interactions between the rate of economic growth and the saving rate in Poland in the 1990s. Tendencies observed in the Polish economy are related to the long term trends of growth and saving in a number of OECD countries. A simulation of possible development paths of the...