Economic Transformation and Corporate Finance in the Post-Communist World

Fumikazu Sugiura

Chapter 2 in Corporate Restructuring and Governance in Transition Economies, 2007, pp 40-62 from Palgrave Macmillan

Abstract: Abstract A systemic transformation has two aspects. One is to abandon and overthrow the conventional socialist economic system with centralized planning, and the other is to construct and institute a new capitalist market economy system. In this chapter I will describe how and what a systemic transformation has destroyed and created in the field of corporate finance system. Corporate finance is an economic phenomenon produced by the interaction of two economic agents: the first is a non-financial enterprise that raises financial resources, and the second is a financial institution which is the provider of funds to the former. During the process of drastic conversion of the economic rules of the game, both entities change their behavioral patterns dramatically.

Keywords: Corporate Governance; Financial Institution; Capital Structure; Banking Sector; Transition Economy (search for similar items in EconPapers)
Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:pal:stuchp:978-0-230-80151-6_3

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DOI: 10.1057/9780230801516_3

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