Using a data set for 162 largest Hungarian firms during the period of 1994-1999 this paper explores the determinants of equity shares held by both foreign investors and by Hungarian corporations. We find evidence of a post-privatisation evolution towards more homogeneous equity structures, where dominant categories of owners aim at achieving controlling… (More)
The views expressed here are those of the author and do not reflect the views of the Institute of the Economics of Planning or of WIDER. I would like to thank WIDER for research support and excellent working conditions, as well as Prof. for helpful comments. My thanks also go to Maj-Britt Kihlfors for secretarial help.
CONTENTS INTRODUCTION 1. Long-term trends and short-term tensions in Hungarian economic development 1.1. Macroeconomic trends and development patterns in the post-1970 period 1.2. 1988: a controversial turning point 2. Economic system: the thorny path towards a market economy 2.1. Systemic changes in 1980-1986 2.2. Reform efforts in 1987-88 2.3. How to go… (More)
for their useful comments on an earlier draft of the paper. I am especially indebted to Professor Marian Ostrowski for his helpful comments and inspiring criticism. Finally, I want to thank also the staff members of WIDER, in particular Juhani Holm, Maj-Britt Khilfors and Liz Paavolainen, for their support in preparing the final manuscript of this paper.… (More)
for their useful comments on earlier drafts of the paper. We want also to thank the staff members of WIDER, in particular Liz Paavolainen and Liisa Roponen, for their support in preparing the final manuscript of this paper.