Ownership Structure and Corporate Control in Bulgaria
The paper presents the actual ownership structure of public companies in Bulgaria on the basis of a survey of 104 companies traded on the Bulgarian Stock Exchange. It also discusses the problems of disclosure of ownership information, focussing on the transposition of the EC Large Holdings Directives. The paper finds out an inconsistent enforcement of the disclosure procedures and very concentrated ownership; for more than half of the companies the largest shareholders stakes’ exceed more than 50%. That provides incentives and opportunities for violation of the rights of minority shareholders, though this is far not the only reason.
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Volume (Year): (2003)
Issue (Month): 7 ()
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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Becht, M.C. & Chapelle, A. & Renneboog, L.D.R., 1999.
"Shareholding Cascades : The Separation of Ownership and Control in Belgium,"
1999-96, Tilburg University, Center for Economic Research.
- Ariane Chapelle & Marco Becht & Luc Renneboog, 2001. "Shareholding cascades: the separation of ownership and control in Belgium," ULB Institutional Repository 2013/9947, ULB -- Universite Libre de Bruxelles.
- Plamen D. Tchipev, 1998.
"Bulgarian Mass Privatisation: Implications on Corporate Governance,"
in: Plamen D. Tchipev & Jurgen Backhaus & Frank Stephen (ed.), Mass privatisation schemes in Central and East European Countries. Implications on corporate governance, edition 1, chapter 2, pages 77-116
Bulgarian Academy of Sciences - Economic Research Institute.
- Plamen Tchipev, 2003. "Bulgarian mass privatisation scheme: Implications on corporate governance," Journal of Economic Studies, Emerald Group Publishing, vol. 30(3/4), pages 351-388, September.
- Stefan Petranov, 2001. "Concentration of Capital in the Public Joint-stock Companies, Protection for the Investors and the Capital Market: 1997-1999," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 7, pages 133-148.
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