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Privileged Interfirm/Bank Relationships in Central Europe: Trigger or Trap for Corporate Governance?


Gerhard Fink


IACCM International Association for Cross Cultural Competence and Management

Peter R. Haiss


WU Vienna University of Economics and Business; UniCredit Bank Austria; IES Vienna - Institute for the International Education of Students

Lucjan T. Orlowski


Sacred Heart University - John F. Welch College of Business

Dominick Salvatore


Fordham University - Department of Economics

1999

CASE Center for Economic and Social Research Studies and Analyses Working Paper No. 170

Abstract:     
The paper focuses on the question whether banks and capital markets in Central Europe are capable of exerting a positive influence on enterprise performance at the present stage of the economic transformation. These markets are characterised by privileged, collaborative interfirm/interbank relationships demonstrated through various channels. Among them is the competition for private deposits between commercial and national banks that are simultaneously supervisors of commercial banks, as is the case in Poland. Other channels include: heavily indebted large banks that are owners of industrial companies (as is the case in Slovakia with the steel mill VSZ owning the third largest bank IRB), investment funds that are facilitating industrial restructuring, and foreign banks holding only minority stakes in large domestic financial institutions.

Number of Pages in PDF File: 32

Keywords: banks, capital market, enterprises, Central Europe, interfirm/bank relationship, corporate governance

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Date posted: February 14, 2005  

Suggested Citation

Fink, Gerhard and Haiss, Peter R. and Orlowski, Lucjan T. and Salvatore, Dominick, Privileged Interfirm/Bank Relationships in Central Europe: Trigger or Trap for Corporate Governance? (1999). CASE Center for Economic and Social Research Studies and Analyses Working Paper No. 170. Available at SSRN: http://ssrn.com/abstract=665881 or http://dx.doi.org/10.2139/ssrn.665881

Contact Information

Gerhard Fink
IACCM International Association for Cross Cultural Competence and Management ( email )
IACCM c/o ivm WU-Wien
Althanstrasse 51, 4. Stock
A-1090 Vienna
Austria
+43/1/313364553 (Phone)
+43/1/3133690724 (Fax)
Peter R. Haiss
WU Vienna University of Economics and Business ( email )
Institute for Export Management
Welthandelsplatz 1
Vienna, A-1020
Austria
++43-664 812 29 90 (Phone)
++43-50505 8944214 (Fax)
UniCredit Bank Austria ( email )
Schottengasse 6-8
Vienna, A-1010
Austria
++43-(0)50505 44214 (Phone)
++43-(0)50505 89 44214 (Fax)
HOME PAGE: http://www.bankaustria.com
IES Vienna - Institute for the International Education of Students
Johannesgasse 7
Vienna, A-1010
Austria
Lucjan T. Orlowski (Contact Author)
Sacred Heart University - John F. Welch College of Business ( email )
5151 Park Avenue
Fairfield, CT 06825
United States
203-371-7858 (Phone)
HOME PAGE: http://www.sacredheart.edu/ltorlowski.cfm
Dominick Salvatore
Fordham University - Department of Economics ( email )
Bronx, NY 10458
United States
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