Publication

This report contains the results of research undertaken in Poland to investigate secondary ownership changes in enterprises involved in special privatization schemes such as mass privatization or management/employee buy-out (MEBO). The authors begin with a general discussion of MEBOs in Poland and analyze ownership changes in a sampling of companies. They present the initial ownership structures created at the time of privatization and their evolution through 1999. They also analyze the factors behind these changes and the relationships between the evolution of ownership structures on the one hand and economic performance and corporate governance on the other.