The influence of owners on voucher provatized firms in the Czech Republic |
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Authors: | Peter Kenway,Ji í Chlumský |
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Affiliation: | Department of Economics The University of Reading PO BOX 218 Whitenights Reading, RG6 6AA UK TEL:01734 31226;Department of International Trade Faculty of International Relations Prague University of Economics nam Winstona Churchilla 4 130 67 Prague 3 Czech Republic |
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Abstract: | This paper analyses evidence gathered via a survey of former state enterprises in the Czech Republic to investigate how far these now privatized firms have been subject to the influence and control of their new owners, principally investment privatization funds. The paper summarizes the survey evidence and sets out its findings under two broad headings: First, the extent and nature of the way these funds have sought to exercies control over the firms they own; and second, the various facets of a firm's operations that have, or have not, been altered by the change of owner. The paper discusses the reasons behing the findings, arguing particularly that Czech voucher privatization, although in itself complete, should be seen and judged as the real privatization and not the finish. |
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Keywords: | privatization investment privatization funds Czech Republic |
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