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Control Potential Of The State In Privatized Firms

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Author Info
Jan Hanousek
Evžen Kočenda

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Abstract

The privatization strategy in many transition economies involved the creation of a special government agency that administered state property during privatization programs as well as after the privatization was declared complete. The National Property Fund (FNM) was the agency in the Czech Republic. In many firms the state kept residual state property long after the privatization was completed. We analyze the control potential of the state exercised through the FNM via the control rights associated with capital stakes in firms along with special voting rights provided by law. Based on complete data set on assets as well as the means of control in privatized firms we conclude that for most of the 1994-2005 period state control potential was extensive and certainly larger than was found by earlier research.

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Publisher Info
Article provided by University of Economics, Prague in its journal Politická ekonomie.

Volume (Year): 2008 (2008)
Issue (Month): 4 ()
Pages:
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Handle: RePEc:prg:jnlpol:v:2008:y:2008:i:4:id:648

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Related research
Keywords: strategic firms; state control potential; privatization; golden share;

Find related papers by JEL classification:
D2 - Microeconomics - - Production and Organizations
G3 - Financial Economics - - Corporate Finance and Governance
H8 - Public Economics - - Miscellaneous Issues
L3 - Industrial Organization - - Nonprofit Organizations and Public Enterprise
P4 - Economic Systems - - Other Economic Systems

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This page was last updated on 2009-11-6.

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