Secondary Privatization in Transition Economies

Privatization was the fundamental pillar of transition from plan to market in former socialist countries. But little is known about the fate of companies that were privatized in large scale privatization schemes such as mass privatization or management-employee buyouts. This is the first original study aiming to fill this gap. It assesses wholesale privatization schemes in three leading transition countries - the Czech Republic, Poland and Slovenia - in terms of the evolving concentration of ownership and relations to firm performance.

'The sixteen economists contributing to this study...provide some interesting insights into the different approaches to the transformation process adopted in each of these erstwhile Communist economies.' - Slavonic & East European Review

Autorentext
ANDREJA BÖHM Senior Adviser, Ministry of Finance, Slovenia JO E P. DAMIJAN Assistant Professor, University of Ljubljana MICHAL GÓRZYNSKI Vice President of CASE-Dordadcy Consulting Company, Warsaw, Poland IRENA GROSFELD Professor, Centre National de la Recherche Scientifique, Paris, France TYTUS KAMINSKI Researcher, Center for Social and Economic Research, Warsaw, Poland EV EN KOCENDA Associate Professor, Center for Economic Research and Graduate Education, Charles University, Prague, Czech Republic PIOTR KOZARZEWSKI Member, CASE foundation, Warsaw, Poland BORIS MAJCEN Senior Research Fellow and Director of the Institute for Economic Research, Ljubljana, Slovenia BARTLOMIEJ PACZÓSKI Research Assistant, CASE Foundation, Warsaw, Poland MARKO REMS MBA candidate, Economics Faculty, University of Ljubljana, Slovenia MATIJA ROJEC Senior Research Fellow, University of Ljubljana, Slovenia MARKO SIMONETI Professor of Finance, University of Ljubljana, Slovenia JURAJ VALACHY Doctoral Student, Center for Economic Research and Graduate Education, Charles University, Prague, Czech Republic

Inhalt
Ownership and Performance in Transition Economies: An Overview; B.Blaszczyk, I.Hoshi, E.Kocenda & R.Woodward Slovenia: Ownership Performance of Mass-Privatized Firms; M.Simoneti, A.Böhm, M.Rems, M.Rojec, J.P.Damijan & B.Majcen Poland I: Ownership and Performance of Firms Privatized by Management-Employee Buyouts; P.Kozarzewski & R.Woodward Poland II: Ownership and Performance of the National Investment Funds and Their Portfolio Companies; B.Blaszczyk, M.Górzynski, T.Kaminski & B.Paczóski The Czech Republic: Ownership and Performance of Voucher-Privatized Firms; E.Kocenda & J.Valachy Mass Privatization and Endogenous Ownership Structure; I.Grosfeld & I.Hoshi Secondary Privatization: Summary and Lessons Learned; B.Blaszczyk, I.Hoshi & R.Woodward