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Corporate Governance and Ownership Concentration on the Budapest Stock Exchange

In: Corporate Restructuring and Governance in Transition Economies

Author

Listed:
  • Zsolt BedŐ
  • Éva Ozsvald

Abstract

The importance of good corporate governance has only recently been recognized in Hungary and efforts to implement modern structures have been slow. Moreover, it has been an ‘imported product,’ not a result of endogenous evolution. The lack of organic development in Hungary is understandable given the history of central planning up to 1990. During the subsequent ten-year transition period all the essential features of a well-functioning market economy were established. Notwithstanding this, strong corporate governance was treated as a low priority ingredient in the newly created capitalist institutions. The updated Company Law contained the necessary prescriptions for the formal corporate governance structures but for closely held private Hungarian companies — the dominant form of those domestically owned — the structures remain more or less an empty shell.

Suggested Citation

  • Zsolt BedŐ & Éva Ozsvald, 2007. "Corporate Governance and Ownership Concentration on the Budapest Stock Exchange," Studies in Economic Transition, in: Bruno Dallago & Ichiro Iwasaki (ed.), Corporate Restructuring and Governance in Transition Economies, chapter 6, pages 135-155, Palgrave Macmillan.
    • Handle: RePEc:pal:stuchp:978-0-230-80151-6_7
    DOI: 10.1057/9780230801516_7
    as

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