Mass privatization offers a particularly suitable framework to study the change in ownership concentration as the extent of change is unusual for a stable market economy. Focusing on two different mass privatization schemes in two transition economies, Poland and the Czech Republic, we find that...

The article is an attempt to assess whether Stock Ownership moderates the relationship between corporate diversification and CEO compensation. Based on agency theory, we develop the hypothesis of whether when CEOs hold a large fraction of their firms’ outstanding stock, the CEOs are acting...

Over the last two decades privatization programs in different countries radically reduced the role of the State as a key player in the economic arena. We use agency theory to discuss the theoretical relationship between changes in the firm's principal-agent structure following privatization, and...