Post-Privatisation Corporate Performance in Poland. Evidence from Companies Privatized in 2008-2011

Blaszczyk, Barbara; Patena, Wiktor

doi:10.2139/ssrn.2693541

SSRN Journal

2015

DOI: 10.2139/ssrn.2693541

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Post-Privatisation Corporate Performance in Poland. Evidence from Companies Privatized in 2008-2011

Barbara Blaszczyk

Wiktor Patena

Abstract: Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in… Show more

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Cited by 4 publications

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“…While only minority shares were sold that in most cases did not eliminate effective state control, the fiscal revenues of the central budget were increased by dividend payments from state-owned companies (Kozarzewski 2015;Blaszczyk -Patena 2015). The growing importance of budget revenues of profits from running SOEs demonstrates an important departure from the systemic aspects of privatisation and state property management in Poland.…”

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The Reversal of the Privatisation Logic in Central European Transition Economies

Szanyi

2016

Acta Oeconomica

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The main ambition of this study is to explain the unexpected change in the transition process of some Central and Eastern European (CEE) countries starting in the second half of the 2000s. Special attention is paid to changes in and the attitudes of governments toward state ownership. Although statist approaches gained momentum in the economic policy of various states in and after the 2008/2009 crisis, this did not mean a fundamental reorientation expressed in changes in the main economic conditions such as ownership patterns. Nevertheless, governments in some CEE countries seem to flirt with such ideas too in the general policy of increasing state economic intervention. The privatisation process was stopped and in a number of cases, formerly privatised assets were re-nationalised. Governments strengthened their influence in the governance structure in mixed-ownership companies. The main body of the present paper provides a better understanding of this change in state property policies. We also call attention to the risks of a reversal of the privatisation logic. An increasing role of the state as proprietor may today strengthen similar negative political and economic consequences and risks as the ones against which the privatisation agenda of the 1990s was suggested. It can reduce competition, give way for political and personal rentseeking, and weaken the functions of market economic institutions.

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The Reversal of the Privatisation Logic in Central European Transition Economies

Szanyi

2016

Acta Oeconomica

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Change in the ownership policy paradigm in Poland: State control vs. privatisation

Kozarzewski

Bałtowski

2017

Acta Oeconomica

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The paper presents an analysis of the shift in the ownership policy of the Polish government in office since 2015 towards a more active role of the state and a more reluctant attitude towards privatisation. This shift reflects a general change in the paradigm of the role of the state towards the concept of the state as a strong market player, which includes the strengthening of its ownership functions. Among others, it has led to stalling the privatisation process and concentrating only on its fiscal goals. Possible factors causing this statist shift are divided into two dichotomic groups: the government’s good faith vs. the impact of rent-seeking interest groups and endogenous vs. exogenous factors. Our main conclusion is that despite similarities with the trends observed in some other countries, endogenous factors such as increasing capture of the state by rent-seeking groups, and not the exogenous ones, including the global financial crisis, contributed most to the growing statist trends in the Polish state’s ownership policy.

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Transformation of Ownership of the Banking System in Poland and Ukraine: Problems and Prospects

Alyeksyeyev¹,

Pozniakova²

2018

FINANCIAL SCIENCES

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The article deals with the issues of transformation of ownership of the banking system in Ukraine and Poland. Poland's experience of successful privatization of the state banks has also been discussed. The place of the state banks preparing for privatization in the banking system of Ukraine has been analysed. By using the method of calculating the concentration of capital by the indicators of the share of the entity in the market (P j ), concentration ratio CRn and the Herfindahl-Hirschman Index (HHI), it has been found that the concentration level of the banking system in Ukraine in recent years is growing. Given the unstable situation, we can assume that the increased concentration within the normal range is a form of consolidation. However, given the current problem of hidden monopolies in Ukraine today, the transformation of ownership in the banking sector needs special attention of banking regulators to assess the possible socio-economic consequences of concentration.

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Post-Privatisation Corporate Performance in Poland. Evidence from Companies Privatized in 2008-2011

Cited by 4 publications

References 23 publications

The Reversal of the Privatisation Logic in Central European Transition Economies

The Reversal of the Privatisation Logic in Central European Transition Economies

Change in the ownership policy paradigm in Poland: State control vs. privatisation

Transformation of Ownership of the Banking System in Poland and Ukraine: Problems and Prospects

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