Financing of Non-Financial Companies in the CEE Countries

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216305%3A26510%2F09%3APU85953" target="_blank" >RIV/00216305:26510/09:PU85953 - isvavai.cz</a>

Result on the web

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DOI - Digital Object Identifier

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Result language

čeština

Original language name

Financing of Non-Financial Companies in the CEE Countries

Original language description

There is a wide perception of two ultimate types of financial system - market-based and bank-based. Banks are the main facilitators of funding through mobilization of savings and provision of credits in bank-based financial systems. Banks form long-run relationships with companies, however do not reveal information immediately in public market, which prevent free riding for taking place. Since market for corporate control (stock market) is not significant, corporate ownership is concentrated. Thereforecorporate governance regimes in these systems are stakeholder oriented and insider controlled. Market-based systems are characterised by the significance of capital market in the process of investment financing. Well-developed stock market quickly and publicly reveals information, which however reduces the incentives for individual investors to acquire information (free riders problem occur). Typical suppliers of funds in market-based model are non-banking financial institutions, which g

Czech name

Financing of Non-Financial Companies in the CEE Countries

Czech description

There is a wide perception of two ultimate types of financial system - market-based and bank-based. Banks are the main facilitators of funding through mobilization of savings and provision of credits in bank-based financial systems. Banks form long-run relationships with companies, however do not reveal information immediately in public market, which prevent free riding for taking place. Since market for corporate control (stock market) is not significant, corporate ownership is concentrated. Thereforecorporate governance regimes in these systems are stakeholder oriented and insider controlled. Market-based systems are characterised by the significance of capital market in the process of investment financing. Well-developed stock market quickly and publicly reveals information, which however reduces the incentives for individual investors to acquire information (free riders problem occur). Typical suppliers of funds in market-based model are non-banking financial institutions, which g

Type

D - Article in proceedings

CEP classification

AH - Economics

OECD FORD branch

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Project

<a href="/en/project/GP402%2F08%2FP531" target="_blank" >GP402/08/P531: Various Considerations Concerning Sources of Financing from Capital Markets in the Conditions of Czech Multinational Enterprises</a><br>

Continuities

P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)

Publication year

2009

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Article name in the collection

Aktuální aspekty české a světové ekonomiky. Seminář konaný u příležitosti mezinárodní konference Liberecké ekonomické fórum 2009 [CD-ROM]

ISBN

978-80-7372-536-5

ISSN

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e-ISSN

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Number of pages

550

Pages from-to

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Publisher name

Technická univerzita v Liberci, Ekonomická fakulta

Place of publication

Liberec

Event location

Liberec, Ekonomická fakulta

Event date

Sep 15, 2009

Type of event by nationality

EUR - Evropská akce

UT code for WoS article

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