IDEAS home Printed from https://ideas.repec.org/p/hwe/certdp/9714.html
   My bibliography  Save this paper

The Polish Bank and Enterprise Restructuring Programme: Debt / Equity Swaps. Survey Results

Author

Listed:
  • M. Belka
  • A. Krajewska

Abstract

This paper provides a detailed analysis of the Polish Bank Conciliation Agreement (BCA) and relations between state owned enterprises and banks during transition. The study is conducted from the perspective of the enterprises implementing BCAs with debt /equity swaps and regular BCAs using data from surveys conducted by the authors during 1994 to 1995. Results of the analysis suggest that bank conciliation agreements did not protect creditors and sometimes supported bad firms at the cost of good ones. However, there are also positive aspects of the restructuring programme including: the improved supervision and control of the banks and creditors over enterprises, banks being mobilised to restructure their bad debt portfolios which provided an impulse for the internal modernisation of bank structures. The BCA also encouraged the emergence of investment banking dealing both with equity investments and co-participation in the management of privatised firms.

Suggested Citation

  • M. Belka & A. Krajewska, 1997. "The Polish Bank and Enterprise Restructuring Programme: Debt / Equity Swaps. Survey Results," CERT Discussion Papers 9714, Centre for Economic Reform and Transformation, Heriot Watt University.
    • Handle: RePEc:hwe:certdp:9714
    as

    Download full text from publisher

    File URL: http://www2.hw.ac.uk/sml/downloads/cert/wpa/1997/dp9714.pdf
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Slomka, Agnieszka, 2005. "Have banks filled the gap? Credit as a mechanism of corporate governance in a transition country: example of Poland," MPRA Paper 642, University Library of Munich, Germany.
    2. Ewa Balcerowicz & Andrzej Bratkowski, 2001. "Restructuring and Development of the Banking Sector in Poland. Lessons to be Learnt by Less Advanced Transition Countries," CASE Network Reports 0044, CASE-Center for Social and Economic Research.
    3. Gerald A. McDermott, 2004. "The Politics of Institutional Learning and Creation: Bank Crises and Supervision in East Central Europe," William Davidson Institute Working Papers Series wp726, William Davidson Institute at the University of Michigan.

    More about this item

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:hwe:certdp:9714. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Colin Miller (email available below). General contact details of provider: https://edirc.repec.org/data/cehwuuk.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.