Secondary Privatization in Slovenia: Evolution of Ownership Structure and Company Performance Following Mass Privatization

48 Pages Posted: 12 Jul 2009 Last revised: 18 Sep 2009

See all articles by Andreja Bohm

Andreja Bohm

affiliation not provided to SSRN

Jože P. Damijan

University of Ljubljana, Slovenia - Department of International Economics

Boris Majcen

Institute for Economic Research - Slovenia

Matija Rojec

University of Ljubljana - Faculty of Social Sciences

Marko Simoneti

University of Ljubljana - Business Law

Date Written: 2001

Abstract

This volume contains the output of country research undertaken in Slovenia in 2000-2001 by a team directed by Andreja Bohm and Marko Simoneti under the international comparative project "Secondary Privatization: the Evolution of Ownership Structures of Privatized Enterprises". The project was supported by the European Union's Phare ACE* Programme 1997 (project P97-8201 R) and was coordinated by Barbara Blaszczyk from the Center for Social and Economic Research (CASE) in Warsaw, Poland. The Slovenian research was additionally co-financed by the research grant received by Central and Eastern European Privatization Network from the Ministry of Science and Technology, Republic of Slovenia (V5-9140-98).

The support of the ACE Programme made it possible to organize the cooperation of an international group of scholars (from the Czech Republic, France, Poland, Slovenia and the U.K.). The entire project was devoted to the investigation of secondary ownership changes in enterprises privatized in special privatization schemes (i.e., mass privatization schemes and MEBOs**) in three Central European countries - the Czech Republic, Poland and Slovenia. Through a combination of different research methods, such as secondary analysis of previous research, analysis of legal and other regulatory instruments, original field research, statistical data base research and econometric analysis of individual enterprise data, the project aimed to investigate the scope, pace and trends in secondary ownership changes, the factors and barriers affecting them and the degree of ownership concentration resulting from them.

In presenting a clear picture of secondary privatization trends in Slovenia, the authors of this volume tried to evaluate the effectiveness of various privatization schemes in terms of their open-endedness (i.e., the degree to which they foster flexibility in adjustments of ownership structures) and in terms of achieving good corporate governance. Additionally, they formulate and examine hypotheses concerning the relationships between changes in the economic performance of enterprises and post-privatization changes in their ownership structures.

This report also includes a set of recommendations concerning necessary changes in the regulations and policies governing privatization and capital markets in Slovenia, designed to foster the development of privatized enterprises and to meet the requirements of the process of accession to the European Union. We hope that the results of this research will be of great interest for everyone interested in the little-researched question of what has happened to companies after privatization in transition countries.

Keywords: privatization, secondary transactions, corporate governance, transition economies, Czech Republic, Slovenia, Poland

Suggested Citation

Bohm, Andreja and Damijan, Joze P. and Majcen, Boris and Rojec, Matija and Simoneti, Marko, Secondary Privatization in Slovenia: Evolution of Ownership Structure and Company Performance Following Mass Privatization (2001). CASE Network Reports No. 46. Available at SSRN: https://ssrn.com/abstract=1432424 or http://dx.doi.org/10.2139/ssrn.1432424

Andreja Bohm

affiliation not provided to SSRN ( email )

Joze P. Damijan (Contact Author)

University of Ljubljana, Slovenia - Department of International Economics ( email )

Kardeljeva ploscad 17
Ljubljana, 1000
Slovenia
+386 61 189 24 00 (Phone)
+386 61 189 26 98 (Fax)

Boris Majcen

Institute for Economic Research - Slovenia ( email )

Kardeljeva ploscad 17
Ljubljana, 1000
Slovenia

Matija Rojec

University of Ljubljana - Faculty of Social Sciences ( email )

Kardeljeva ploscad 5
Ljubljana, 1000
Slovenia

Marko Simoneti

University of Ljubljana - Business Law ( email )

Poljanski nasip 2
Ljubljana, SI-1000
Slovenia

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