Performance of IPFs after mass privatization process. Evidence from Russian and Czech mass privatization programs
IPFs were created to facilitate theownership concentration. Extensive literature pointsout that effective corporate governance needsownership concentration. Vishny and Shleifer (1986),Mc Connell and Servaes (1990), Vishny, Shleifer(1997) find a positive relation between ownershipconcentration and co...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
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Editura Universităţii din Oradea
2009-05-01
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| Series: | Journal of Electrical and Electronics Engineering |
| Subjects: | |
| Online Access: | http://electroinf.uoradea.ro/reviste%20CSCS/documente/JEEE_2009/Articole_pdf_JEEE_ME_nr_1/JEEE_2009_Nr_1_ME_Bodog_Performance.pdf |
| _version_ | 1819013850186383360 |
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| author | Simona Aurelia Bodog Alexandru Constangioara Nicoleta Bugnar Liana Mester |
| author_facet | Simona Aurelia Bodog Alexandru Constangioara Nicoleta Bugnar Liana Mester |
| author_sort | Simona Aurelia Bodog |
| collection | DOAJ |
| description | IPFs were created to facilitate theownership concentration. Extensive literature pointsout that effective corporate governance needsownership concentration. Vishny and Shleifer (1986),Mc Connell and Servaes (1990), Vishny, Shleifer(1997) find a positive relation between ownershipconcentration and corporate performance in US. Theyall argue that diffuse ownership yields significantpower to managers, whose interests do not coincidewith shareholder’s interests. Consequently, managerscould purse non-value maximizing activities such asself dealing, quiet life or empire building. This paperexamines evidence on IPFs in transitional economiesof Czech Republic and Russia. |
| first_indexed | 2024-12-21T02:06:30Z |
| format | Article |
| id | doaj.art-a63688c84e974476a7086bd4dbaa3949 |
| institution | Directory Open Access Journal |
| issn | 1844-6035 |
| language | English |
| last_indexed | 2024-12-21T02:06:30Z |
| publishDate | 2009-05-01 |
| publisher | Editura Universităţii din Oradea |
| record_format | Article |
| series | Journal of Electrical and Electronics Engineering |
| spelling | doaj.art-a63688c84e974476a7086bd4dbaa39492022-12-21T19:19:30ZengEditura Universităţii din OradeaJournal of Electrical and Electronics Engineering1844-60352009-05-0121219222Performance of IPFs after mass privatization process. Evidence from Russian and Czech mass privatization programsSimona Aurelia BodogAlexandru ConstangioaraNicoleta BugnarLiana MesterIPFs were created to facilitate theownership concentration. Extensive literature pointsout that effective corporate governance needsownership concentration. Vishny and Shleifer (1986),Mc Connell and Servaes (1990), Vishny, Shleifer(1997) find a positive relation between ownershipconcentration and corporate performance in US. Theyall argue that diffuse ownership yields significantpower to managers, whose interests do not coincidewith shareholder’s interests. Consequently, managerscould purse non-value maximizing activities such asself dealing, quiet life or empire building. This paperexamines evidence on IPFs in transitional economiesof Czech Republic and Russia.http://electroinf.uoradea.ro/reviste%20CSCS/documente/JEEE_2009/Articole_pdf_JEEE_ME_nr_1/JEEE_2009_Nr_1_ME_Bodog_Performance.pdfinvestment privatization fundscorporate governancebusiness performance |
| spellingShingle | Simona Aurelia Bodog Alexandru Constangioara Nicoleta Bugnar Liana Mester Performance of IPFs after mass privatization process. Evidence from Russian and Czech mass privatization programs Journal of Electrical and Electronics Engineering investment privatization funds corporate governance business performance |
| title | Performance of IPFs after mass privatization process. Evidence from Russian and Czech mass privatization programs |
| title_full | Performance of IPFs after mass privatization process. Evidence from Russian and Czech mass privatization programs |
| title_fullStr | Performance of IPFs after mass privatization process. Evidence from Russian and Czech mass privatization programs |
| title_full_unstemmed | Performance of IPFs after mass privatization process. Evidence from Russian and Czech mass privatization programs |
| title_short | Performance of IPFs after mass privatization process. Evidence from Russian and Czech mass privatization programs |
| title_sort | performance of ipfs after mass privatization process evidence from russian and czech mass privatization programs |
| topic | investment privatization funds corporate governance business performance |
| url | http://electroinf.uoradea.ro/reviste%20CSCS/documente/JEEE_2009/Articole_pdf_JEEE_ME_nr_1/JEEE_2009_Nr_1_ME_Bodog_Performance.pdf |
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