Using data on 157 large companies in Poland and Hungary this paper employs Bayesianstructural equation modeling to examine interrelationships between corporategovernance, managers’ independence from owners in terms of strategic decision-making,exporting and performance. It is found that...

This paper presents an empirical study based on a survey of 399 owners of small and mediumsize companies in Lithuania. Applying bivariate and ordered probit estimators, we investigatewhy some business owners expect their firms to expand, while others do not. Our mainfindings provide evidence...

Using panel data on large Polish firms this paper examines the relationship between corporatecontrol structures, sales growth and the determinants of employment change during the period 1996-2002. We find that privatised and de novo firms are the main drivers of employment growth andthat, in the...

This paper examines the determinants of short-term wage dynamics, using asample of large Hungarian companies for the period of 1996-1999. We test thebasic implications of an efficient contract model of bargaining between theincumbent employees and the managers, which we are unable to reject....

Building on the ‘law and economics’ literature, this paper analyses corporategovernance implications of debt financing in an environment where a dominant owner isable to extract ex ante ‘private benefits of control’. Ownership concentration may result inlower efficiency, measured as a...

The Working Paper employs the paradigm of new institutional economics to examine peculiaritiesof the Russian model of corporate governance and control in the banking sector. The study reliesupon theoretical as well as applied research of corporate governance in Russian commercial banksfeaturing...

The aim of this paper is to provide an overview of the key issues surrounding entrepreneurshipdevelopment in transition countries focusing on six main themes. Though it can be argued that thetransition countries started from more or less the same point when they embarked on theirtransitional...

The paper is the first analysis of the competitiveness of Russian enterprises from the perspective of value chains, with a focus on the example of tube & pipe and furniture producers. In both industries, Russian firms enjoy an advantage on the raw material side. Nevertheless, the overall...

This paper provides an audit of Slovenian initiatives for promoting innovation in small and medium-sized enterprises (SMEs) through knowledge transfer from Higher Education Institutions (HEIs). The first two sections set out a brief review of knowledge transfer and innovation performance in...

The paper provides an interpretation of the transformation of post-soviet Russian enterprises from the resource-based perspective of the firm in the context of institutional change. Based on the resource-based perspective, which conceptualises a firm as a collection of resources embedded in...