Kozarzewski, P.; (2002) Changes in corporate governance structures in Polish privatised companies. (Economics Working Papers 8). Centre for the Study of Economic and Social Change in Europe, SSEES, UCL: London, UK.

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Abstract

The paper presents early results of the survey of 84 Polish privatised industrial companies, sampled from a list of the 500 biggest firms. Three aspects of corporate governance were analysed: ownership structure, management of the companies, and supervision structures. An attempt was made to assess the influence of corporate governance characterisics on companies' performance. The main conclusion of the paper is that privatisation of the largest enterprises resulted in deep changes to their corporate governance structures, and those changes vary with ownership. Most favourable changes in corporate governance structures and performance were discovered in companies with highest levels of ownership concentration, especially in the hands of foreign investors.

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