| Author(s): |
† prof. Ing. Michal Mejstřík CSc., Krystof Mejstrik
|
| Type: |
Chapter in book |
| Year: |
2007 |
| Number: |
|
| ISSN / ISBN: |
ISBN 140399935X |
| Published in: |
Palgrave Macmillan |
| Publishing place: |
London |
| Keywords: |
corporate governance, Foreign direct investment, ownership concentration |
| JEL codes: |
G300, G380, |
| Suggested Citation: |
Mejstrik M.and K.:Corporate Governance, Ownership Concentration and FDI in CR. In:Corporate Restructuring and Governance in transition Countries (ed.B.Dallago,I.Iwasaki), Palgrave Macmillan, London, pp. 65-90, ISBN 140399935X |
| Grants: |
402/05/2123 (2005-2007) Efficiency of Financial Markets and New Basel Capital Accord (NBCA)
IES Research Framework Institutional task (2005-2011) Integration of the Czech economy into European union and its development
|
| Abstract: |
Issues of corporate governance were seen as the key barriers for further enterprise development and credit policy of banks within the Czech Republic and also influenced significantly the shape of foreign investments. The Czech institutional prerequisites and a transitory “Czech-biased, bivalent form” of corporate governance generated internationally high degree of ownership concentration. Foreigners gradually invested more of foreign direct investments but less portfolio investments. Foreign-controlled companies seemed to exhibit long-term standard behavior that might have been partially eroded by the environment with prevailing incomplete contracts having used by number of controlling shareholders to consume their private benefits of control. The adopted institutional changes following EU “acquis communautaire”, huge inflow of foreign direct investments, internal firms maturization and privatization of remaining state banks resulted in standardization of the Czech corporate governance marked by rapid improvement of corporate performance and competitiveness. |
| Downloadable: |
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