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1998 | nr 801 Handel międzynarodowy i inwestycje zagraniczne w latach dziewięćdziesiątych | 66--80
Tytuł artykułu

Polish Mass Privatisation : Succes or Failure

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EN
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EN
The paper evaluates the Polish mass privatisation program (MPP). Mass privatisation - as privatisation in general - is not an aim in itself, but serves certain objectives. Commonly, MPP are based on economic and political considerations. In particular, by transferring state-owned enterprises (SOE) virtually free to the broad public, it is supposed to accelerate the privatisation process by (Jermakowicz, 1996: 8) (i) omitting the time consuming valuation process of SOE, (ii) circumventing the lack of domestic capital, and (iii) overcoming of public resistance. On the other hand, mass privatisation may result in dispersed share-ownership, effectively leaving the corporate governance of mass privatised enterprises unchanged, and impeding enterprise restructuring. To alleviate this problem intermediaries are usually integrated into MPP. In the following it is analysed whether the Polish way of mass privatisation accomplishes the political and economic objectives of accelerating privatisation and enterprise restructuring. The paper consists of four parts: section one introduces the basic features and characteristics of the Polish MPP. On that basis, section two and three discuss the scheme's record with respect to political and economic objectives. Section four concludes the paper. (fragment of text)
Twórcy
Bibliografia
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Bibliografia
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