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Corporate Governance during and after Privatization: the Lessons from Hungary

In: Privatization, Corporate Governance and the Emergence of Markets

Author

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  • Péter Mihályi

    (Central European University)

Abstract

This chapter traces the evolution of enterprise governance over the past 10 years. Using the language of Stark (1992, 1996b) we reject the ‘starting from scratch’ approach in which privatization is portrayed as a new world being built on the ruins of communism. For us transformation resembles more a bricolage of rebuilding with the ruins. Instead of thinking about organizational innovation only as a replacement, we see reconfigurations and rearrangements of existing institutional elements. Thus the analysis below takes as its point of departure that the changes in enterprise governance — as well as in privatization and transition in a broader sense — are marked by path dependence.

Suggested Citation

  • Péter Mihályi, 2000. "Corporate Governance during and after Privatization: the Lessons from Hungary," Studies in Economic Transition, in: Eckehard F. Rosenbaum & Frank Bönker & Hans-Jürgen Wagener (ed.), Privatization, Corporate Governance and the Emergence of Markets, chapter 9, pages 139-154, Palgrave Macmillan.
    • Handle: RePEc:pal:stuchp:978-0-230-28607-8_9
    DOI: 10.1057/9780230286078_9
    as

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