EconPapers    
Economics at your fingertips  
 

Corporate control in the public enterprises in Bulgaria

Plamen Tchipev ()

Economic Thought journal, 2002, issue 6, 48-68

Abstract: Two important problems are investigated - how is the information for corporate control revealed and what is its model in the Bulgarian public enterprises. Analyzed are the introduction and implementation of the EU Directive of revealing of information, as well as statistical investigation of the corporate control in 104 public enterprises, traded on the Sofia Stock Exchange by means of their shareholder structure. Among the most important conclusions of the investigation are: First, the adoption of the strict requirements of the European Directive 88/627 is an indisputable success for the further development of the legal base governing public companies and the trading of their stock. In the same time its practical implementation is not sufficiently consistent, which is not in the interest of investors, mainly the minority and individual investors. Second, the property of the public companies at present is strictly concentrated in the hands of a small number of shareholders. They hold over 50% of voting shares, which enables them to benefit more from managing the companies than to rely on the classical investment aims for capital return and dividends.

JEL-codes: G32 K22 (search for similar items in EconPapers)
Date: 2002
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2) Track citations by RSS feed

Downloads: (external link)
http://www.ceeol.com/aspx/issuedetails.aspx?issuei ... fd-8505-75886aa5be7d
Fee access

Related works:
Journal Article: Ownership Structure and Corporate Control in Bulgaria (2003) Downloads
Working Paper: Ownership Structure and Corporate Control in Bulgaria (2001) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bas:econth:y:2002:i:6:p:48-68

Access Statistics for this article

More articles in Economic Thought journal from Bulgarian Academy of Sciences - Economic Research Institute Contact information at EDIRC.
Bibliographic data for series maintained by Diana Dimitrova ().

 
Page updated 2020-11-16
Handle: RePEc:bas:econth:y:2002:i:6:p:48-68