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The Czech Republic: the Case of Delayed Transformation

In: Corporate Governance in a Changing Economic and Political Environment

Author

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  • Marek Havrda

Abstract

Corporate governance, in a broader sense (that is not limited to the principal-agent problem), is an opportunity to describe and analyze the successes and failures in 12 years of efforts aimed at overall institutional change, the transformation of the economic system and its outcomes for the whole economy. The notion of corporate governance enables us to identify actors as stakeholders in the transformation process (state, banks, enterprises, managers, trade unions, and other institutional actors) and to trace their motivation. This broader understanding of institutional and formal relations among shareholders associated with companies and understanding of networks created by these actors can contribute to formulating and identifying their strategies. Moreover, the influence of institutional changes on strategy formulation at the enterprise level, including enterprise restructuring, can be discussed in the framework.1

Suggested Citation

  • Marek Havrda, 2003. "The Czech Republic: the Case of Delayed Transformation," Studies in Economic Transition, in: Michał Federowicz & Ruth V. Aguilera (ed.), Corporate Governance in a Changing Economic and Political Environment, chapter 5, pages 121-143, Palgrave Macmillan.
    • Handle: RePEc:pal:stuchp:978-0-230-28619-1_5
    DOI: 10.1057/9780230286191_5
    as

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