Privatization, Corporate Governance And The Emergence Of Markets (studies In Economic Transition)

This series has been established in response to a growing demand for a greater understanding of the transformation of economic systems. It brings together theoretical and empirical studies on economic transition and economic development. The post-communist transition from planned to market economies is one of the main areas of applied theory, as it is in this field that the most dramatic examples of change and economic dynamics can be found. The series aims to contribute to the understanding of specific major economic changes as well as to advance the theory of economic development. The implications of economic policy are a major point of focus. Front Matter....Pages i-x Privatization in Context: an Introduction....Pages 1-13 Front Matter....Pages 15-15 Polish Mass Privatization: Success or Failure?....Pages 17-32 On the Political Economy of Privatization in Eastern Germany....Pages 33-49 Fiscal Aspects of Privatization: the Paradox of Privatization Revenues....Pages 50-66 Front Matter....Pages 67-67 Changing Models of Corporate Governance in OECD Countries....Pages 69-82 Corporate Governance: a Systemic Approach with an Application to Eastern Europe....Pages 83-97 Empirical Analysis of Corporate Governance in Transition....Pages 98-122 Privatization and Corporate Governance in Transition Countries: Beyond the Principal-Agent Model....Pages 123-138 Corporate Governance during and after Privatization: the Lessons from Hungary....Pages 139-154 Banks and the Privatization of Enterprises in Poland....Pages 155-170 Manager Incentives and Turnover of Managers: Evidence from the Czech Republic....Pages 171-188 The Relationship between FDI, Privatization and Structural Change in Central and Eastern European Countries....Pages 189-204 Front Matter....Pages 205-205 Transforming Socialist Networks....Pages 207-222 Towards a Theory of Markets: Networks, Communication and Knowledge....Pages 223-236 Direct Foreign Investment and the Evolution of Markets in Central and Eastern Europe....Pages 237-248 Back Matter....Pages 249-284 Privatization is a major building block of transformation. Moreover, there are no precedents in Western countries for a privatization programme of the size and scope under way in Central and Eastern Europe. These peculiarities have sparked and sustained the continuing interest of economists and other social scientists in privatization. At the same time, the hitherto accumulated empirical evidence provides an unequalled opportunity to address issues, ranging from corporate governance to the relationship between privatization and the emergence of markets, which are likewise relevant for the understanding of established market economies. This book addresses these issues from a multi-disciplinary perspective, focusing on the theoretical groundwork of privatization and enterprise restructuring as well as on empirical evidence. The contributions show that changes in ownership titles are but one part of the story, being closely interwoven as they are with the transformation of corporate governance, enterprise restructuring, network transformation and the emergence of markets The volume focuses on privatisation in transition countries, addressing issues ranging from corporate governance to the relationship between privatisation and the emergence of markets, from a multi-disciplinary perspective. The contributors investigate both the theoretical groundwork of privatisation and enterprise restructuring as well as recent empirical evidence. The contributions show that changes in ownership titles are but one part of the story, being closely interwoven as they are with the transformation of corporate governance, enterprise restructuring, network transformation and the emergence of markets. This volume focuses on privatization in transitional economies, addressing issues ranging from corporate governance to the relationship between privatization and the emergence of markets. The contributors investigate both the theoretical groundwork of privatization and enterprise restructuring, as well as recent empirical evidence. The contributions show that changes in ownership titles are but one part of the story, being closely interwoven as they are with the transformation of corporate governance, enterprise restructuring, network transformation and the emergence of markets

This volume focuses on privatization in transition countries, addressing issues ranging from corporate governance to the relationship between privatization and the emergence of markets. The contributors investigate both the theoretical groundwork of privatization and enterprise restructuring as well as recent empirical evidence.