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The influence of owners on voucher provatized firms in the Czech Republic

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  • Peter Kenway
  • Jiří Chlumský

Abstract

This paper analyses evidence gathered via a survey of former state enterprises in the Czech Republic to investigate how far these now privatized firms have been subject to the influence and control of their new owners, principally investment privatization funds. The paper summarizes the survey evidence and sets out its findings under two broad headings: First, the extent and nature of the way these funds have sought to exercies control over the firms they own; and second, the various facets of a firm's operations that have, or have not, been altered by the change of owner. The paper discusses the reasons behing the findings, arguing particularly that Czech voucher privatization, although in itself complete, should be seen and judged as the real privatization and not the finish.

Suggested Citation

  • Peter Kenway & Jiří Chlumský, 1997. "The influence of owners on voucher provatized firms in the Czech Republic," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 5(1), pages 185-193, May.
    • Handle: RePEc:bla:etrans:v:5:y:1997:i:1:p:185-193
    DOI: 10.1111/j.1468-0351.1997.tb00010.x
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    References listed on IDEAS

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    1. Pinto, Brian & Belka, Marek & Krajewski, Stefan, 1993. "Transforming state enterprises in Poland : macroeconomic evidence on adjustment," Policy Research Working Paper Series 1101, The World Bank.
    2. Brian Pinto & Marek Belka & Stefan Krajewski, 1993. "Transforming State Enterprises in Poland: Evidence on Adjustment by Manufacturing Firms," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 24(1), pages 213-270.
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