IDEAS home Printed from https://ideas.repec.org/p/sec/cnrepo/0045.html
   My bibliography  Save this paper

Secondary Privatization in the Czech Republic: Changes in Ownership and Enterprise Performance in Voucher-Privatized Firms

Author

Listed:
  • Evzen Kocenda
  • Juraj Valachy

Abstract

This volume contains the output of country research undertaken in the Czech Republic in 2000–2001 by EvDen Kocenda and Juraj Valachy (CERGE) under the international comparative project 'Secondary Privatization: the Evolution of Ownership Structures of Privatized Enterprises.' The project was supported by the European Union's Phare ACE* Programme 1997 (project P97-8201 R) and was coordinated by Barbara Blaszczyk of the Center for Social and Economic Research (CASE) in Warsaw, Poland. The support of the ACE Programme made it possible to organize the cooperation of an international group of scholars (from the Czech Republic, France, Poland, Slovenia and the U.K.). The entire project was devoted to the investigation of secondary ownership changes in enterprises privatized in special privatization schemes (i.e., mass privatization schemes and MEBOs**) in three Central European countries – the Czech Republic, Poland and Slovenia. Through a combination of different research methods, such as secondary analysis of previous research, analysis of legal and other regulatory instruments, original field research, statistical data base research and econometric analysis of individual enterprise data, the project aimed to investigate the scope, pace and trends in secondary ownership changes, the factors and barriers affecting them and the degree of ownership concentration resulting from them. Following the presentation of a clear picture of the economic outcomes of the voucher privatization in the Czech Republic, the paper turns to the initial changes in ownership structures of privatized companies. The main types of new owners are identified and the emerging trends of ownership concentration analyzed. The second part of this publication is devoted to a description of post-privatization transactions and their influence on the further re-allocation and concentration of ownership. The interconnection between secondary changes in ownership structure and economic performance of a sample of companies traded on the Prague Stock Exchange is investigated using various econometric instruments.

Suggested Citation

  • Evzen Kocenda & Juraj Valachy, 2001. "Secondary Privatization in the Czech Republic: Changes in Ownership and Enterprise Performance in Voucher-Privatized Firms," CASE Network Reports 0045, CASE-Center for Social and Economic Research.
    • Handle: RePEc:sec:cnrepo:0045
    as

    Download full text from publisher

    File URL: https://case-research.eu/upload/publikacja_plik/RC45.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Jan Toporowski, 1998. "Capital Market Inflation and Privatisation in Capitalist and Post-Communist Economies," Zagreb International Review of Economics and Business, Faculty of Economics and Business, University of Zagreb, vol. 1(2), pages 77-89, November.
    Full references (including those not matched with items on IDEAS)

    Citations

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


    Cited by:

    1. Barbara Blaszczyk & Iraj Hashi & Alexander Radygin & Richard Woodward, 2003. "Corporate Governance and Ownership Structure in the Transition: The Current State of Knowledge and Where to Go from Here," CASE Network Studies and Analyses 0264, CASE-Center for Social and Economic Research.
    2. Zorica Kalezić, 2015. "Ownership Concentration and Firm Performance in Transition Economies: Evidence from Montenegro," Journal of Central Banking Theory and Practice, Central bank of Montenegro, vol. 4(3), pages 5-64.
    3. Karel Havlíček & Ivana Turková & Gabriela Dlasková, 2014. "Analysis of Large-Scale Privatisation in the Czech Republic in the Years 1991-2005 on the Sample of Selected Privatised Companies," Entrepreneurial Business and Economics Review, Centre for Strategic and International Entrepreneurship at the Cracow University of Economics., vol. 2(4), pages 51-70.
    4. Marko Simoneti & Joze P. Damijan & Matija Rojec & Boris Majcen, 2004. "Case-by-case versus Mass Privatization in Transition Economies: Owner and Seller Effects on Performance of Firms in Slovenia," LICOS Discussion Papers 14304, LICOS - Centre for Institutions and Economic Performance, KU Leuven.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Jan Toporowski, 2000. "Monetary Policy in an Era of Capital Market Inflation," Macroeconomics 0004026, University Library of Munich, Germany.
    2. Lubom??r L??zal, 2002. "Determinants of Financial Distress: What Drives Bankruptcy in a Transition Economy? The Czech Republic Case," William Davidson Institute Working Papers Series 451, William Davidson Institute at the University of Michigan.

    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:sec:cnrepo:0045. 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.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with 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: Anna Budzynska (email available below). General contact details of provider: https://edirc.repec.org/data/caseepl.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.