This paper uses a dynamic unrestricted capital structure model to examine the determinants of the private companies' target financial leverage and the speed of adjustment to it in two transition economies, the Czech Republic and Bulgaria. We explicitly model the adjustment of companies' leverage...

The main factors influencing the probability of bankruptcy are analyzed on Czech Republic 1993-1999 firm data. Basic models of the bankruptcy are compared: neoclassical, financial and corporate governance. The corporate governance hypothesis does not receive support in the ownership but the...

Statistical income surveys are used to document systemic changes in distribution and redistribution of household income and its determinants over the period 1988-1996. First, the growing difficulties facing income surveys under the democratic regime are considered. Secondly, the substantive...

This study analyzes the effect of corporate environmental performance on financial performance in a transition economy. In particular, it assesses whether good environmental performance affects revenues, costs, or both, and if so, in which directions. As environmental performance improves, do...

In this paper, we provide empirical evidence on bank cost-efficiency in transition countries. Our estimates of the cost-efficiency using a distribution-free approach suggests that among the countries analysed, Estonia, Latvia and Slovenia display the highest X-efficiency while the Czech Republic...

Post-communist labor markets provide an interesting laboratory since unemployment rates grew from zero to double digits and gender differences began to vary greatly across these countries. We provide the first systematic analysis of the determinants of the gender unemployment gap in the Czech...

The paper analyses the relationship between the financial structure of the different institutional units in the Czech Republic and their performance, by testing several theoretical hypotheses. It employs Data Envelopment Analysis to estimate separately corporate and individual farms' technical...

Following the swift demise of the state-socialist regime in 1989, a profound transformation of family and fertility patterns has taken place in the Czech Republic. Family formation has been postponed and period fertility rates have fallen to very low levels, especially among young adults....

Since the collapse of the socialist system at the beginning of the 1990s, the health situation in the Czech Republic has improved more rapidly than in other CEE countries. Mortality from circulatory diseases decreased significantly at higher ages. The recent decline in mortality is likely to be...