Institutional Investors in the Czech Voucher Privatisation

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216224%3A14560%2F20%3A00117663" target="_blank" >RIV/00216224:14560/20:00117663 - isvavai.cz</a>

Výsledek na webu

<a href="https://www.eaco.eu/?s=Institutional+Investors+in+the+Czech+Voucher+Privatisation" target="_blank" >https://www.eaco.eu/?s=Institutional+Investors+in+the+Czech+Voucher+Privatisation</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.2478/danb-2020-0020" target="_blank" >10.2478/danb-2020-0020</a>

Jazyk výsledku

angličtina

Název v původním jazyce

Institutional Investors in the Czech Voucher Privatisation

Popis výsledku v původním jazyce

Voucher privatisation that proceeded in the Czech Republic in the 1990s was a realisation of a unique experiment which resulted in the transfer of almost half of state-owned enterprises to private hands within two years. A substantial part of these private hands was represented by intermediaries - the investment privatisation funds (IPFs). Their presence in the privatisation is often criticised as the cause of the extensive tunnelling. The aim of the paper is to find out how these funds performed after the privatisation. Using the standard Capital Asset Pricing Model, with OLS parameter estimations, I conclude that the so-called tunnelling was not as extensive, and that the privatisation funds were not as harmful for the privatisation as is believed.

Název v anglickém jazyce

Institutional Investors in the Czech Voucher Privatisation

Popis výsledku anglicky

Voucher privatisation that proceeded in the Czech Republic in the 1990s was a realisation of a unique experiment which resulted in the transfer of almost half of state-owned enterprises to private hands within two years. A substantial part of these private hands was represented by intermediaries - the investment privatisation funds (IPFs). Their presence in the privatisation is often criticised as the cause of the extensive tunnelling. The aim of the paper is to find out how these funds performed after the privatisation. Using the standard Capital Asset Pricing Model, with OLS parameter estimations, I conclude that the so-called tunnelling was not as extensive, and that the privatisation funds were not as harmful for the privatisation as is believed.

Druh

J_SC - Článek v periodiku v databázi SCOPUS

CEP obor

—

OECD FORD obor

50201 - Economic Theory

Projekt

—

Návaznosti

S - Specificky vyzkum na vysokych skolach

Rok uplatnění

2020

Kód důvěrnosti údajů

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

Název periodika

DANUBE: Law and Economics Review

ISSN

1804-6746

e-ISSN

1804-8285

Svazek periodika

2020

Číslo periodika v rámci svazku

4

Stát vydavatele periodika

DE - Spolková republika Německo

Počet stran výsledku

12

Strana od-do

343-354

Kód UT WoS článku

—

EID výsledku v databázi Scopus

2-s2.0-85099948981