Polish Mass Privatization: Success or Failure?

Rainer Gesell
Additional contact information
Rainer Gesell: European University Viadrina

Chapter 2 in Privatization, Corporate Governance and the Emergence of Markets, 2000, pp 17-32 from Palgrave Macmillan

Abstract: Abstract Mass privatization — like any privatization — is not an aim in itself, but serves various economic, fiscal and social-political objectives (Vickers and Yarrow, 1991). Mass privatization programmes (MPPs) are usually based on economic and political considerations. Fiscal objectives are only of minor importance since state-owned enterprises (SOEs) are given away. MPPs are in particular supposed to accelerate privatization by (a) omitting the valuation of SOEs, (b) circumventing lack of domestic capital, and (c) overcoming public resistance (Jermakowicz, 1996). MPPs, however, may result in dispersed share ownership, effectively leaving the corporate governance of mass privatized enterprises unchanged. To alleviate this problem, intermediaries are part of most MPPs.

Keywords: Corporate Governance; Ownership Structure; Supervisory Board; Corporate Control; Political Objective (search for similar items in EconPapers)
Date: 2000
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
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:pal:stuchp:978-0-230-28607-8_2

Ordering information: This item can be ordered from
http://www.palgrave.com/9780230286078

DOI: 10.1057/9780230286078_2

Access Statistics for this chapter

More chapters in Studies in Economic Transition from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().