A tanulmány javaslatot tesz a puha költségvetési korlát fogalmának tisztázására. A fogalmat széles körben alkalmazzák mind a szocialista és posztszocialista, mind pedig a piaci gazdaságok elemzése során. A szerzők által megfogalmazott értelmezés fel öleli a puha...

A cikk eredetileg egy amerikai egyetemi intézet felkérésére készült, amely Kuba tanulmányozására specializálódott, és azt a kérdést tette fel: mit okulhatna a majdan posztkommunista útra lépő ország Kelet-Európa átalakulásából. A szerző a feladatot kiszélesítette, és a...

Soft budget constraints (SBCs) are a persistent feature of transition economies and have been blamed for i.a. a lack of fiscal consolidation and sluggish growth. EU eastward enlargement has - among other things - been conditioned on tackling SBCs. This paper analyzes such outside conditionality...

In this paper we use rich panel data for a representative sample of Estonian enterprises to analyse diverse issues related to the determinants of ownership structures and ownership changes after privatisation. A key focus is to determine whether ownership changes are related to economic...

This paper investigates CEO incentives in Chinese state-controlled firms. We find that firm performance has a positive effect on CEO compensation. We also find that firm performance is positively associated with CEO promotion and negatively associated with CEO turnover. CEOs for state-controlled...

This study extends the work of Leuz et al. (2003) through using multivariate statistical analyses. I examine the differences in earnings management based on the notion of investor protection across 26 countries. Consistent with the prediction that earnings management is expected to be lower in...

Although the question of whether international corporate governance is converging on the U.S. model remains contested, there is general agreement as to the nature of that U.S. model. Specifically, virtually all participants in the convergence debate assume that U.S. corporate law is based on a...