Abstract
Mass privatization — like any privatization — is not an aim in itself, but serves various economic, fiscal and social-political objectives (Vickers and Yarrow, 1991). Mass privatization programmes (MPPs) are usually based on economic and political considerations. Fiscal objectives are only of minor importance since state-owned enterprises (SOEs) are given away. MPPs are in particular supposed to accelerate privatization by (a) omitting the valuation of SOEs, (b) circumventing lack of domestic capital, and (c) overcoming public resistance (Jermakowicz, 1996). MPPs, however, may result in dispersed share ownership, effectively leaving the corporate governance of mass privatized enterprises unchanged. To alleviate this problem, intermediaries are part of most MPPs.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
Similar content being viewed by others
Author information
Authors and Affiliations
Editor information
Editors and Affiliations
Copyright information
© 2000 Palgrave Macmillan, a division of Macmillan Publishers Limited
About this chapter
Cite this chapter
Gesell, R. (2000). Polish Mass Privatization: Success or Failure?. In: Rosenbaum, E.F., Bönker, F., Wagener, HJ. (eds) Privatization, Corporate Governance and the Emergence of Markets. Studies in Economic Transition. Palgrave Macmillan, London. https://doi.org/10.1057/9780230286078_2
Download citation
DOI: https://doi.org/10.1057/9780230286078_2
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-41800-8
Online ISBN: 978-0-230-28607-8
eBook Packages: Palgrave Economics & Finance CollectionEconomics and Finance (R0)