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The emergence of large shareholders in mass privatized firms: Evidence from Poland and the Czech Republic

Grosfeld, Irena; Hashi, Iraj - William Davidson Institute, University of Michigan - 2004

change in ownership concentration and firm performance, we find an interesting difference between the two countries: in the … the quality of past performance does not affect investors' willingness to increase their holdings. This effect may be …

Persistent link: https://www.econbiz.de/10005652508

Mass Privatisation, Corporate Governance and Endogenous Ownership Structure

Grosfeld, Irena; Hashi, Iraj - William Davidson Institute, University of Michigan - 2003

We compare the change in ownership concentration in firms privatized through two different programs of mass privatization: the Czech voucher scheme and the Polish program of National Investment Funds. Despite important differences in ownership structure at the start of the process and in the...

Persistent link: https://www.econbiz.de/10005677549

Dynamism and Inertia on the Russian Labour Market: A Model of Segmentation

Grosfeld, Irena; Senik-Leygonie, Claudia; Verdier, Thierry - William Davidson Institute, University of Michigan - 1999

This paper proposes an explanation of the puzzling coexistence of elements of inertia and dynamism on the Russian labour market using a segmentation model. Risk averse workers are differentiated according to their productivity. They face a trade-off between wages and access to social services...

Persistent link: https://www.econbiz.de/10005677602

Competition and Corporate Governance: Substitutes or Compliments? Evidence from the Warsaw Stock Exchange

Grosfeld, Irena; Tressel, Thierry - William Davidson Institute, University of Michigan - 2001

In this paper we analyze the impact of product market competition and ownership structure on corporate performance. We … growth of productivity. Our results show that product market competition has a positive and significant impact on performance …. Concerning the effect of ownership concentration, we find a U-shaped relationship with performance. Firms with relatively …

Persistent link: https://www.econbiz.de/10005784764