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| Author: | Dittus, P. |
| Title: | Why East European banks don't want equity ? |
| Journal: | European Economic Review
1996 : APR, VOL. 40:3-5, p. 655-662 |
| Index terms: | CONTROL BANKS EUROPE, EAST CZECH REPUBLIC HUNGARY POLAND |
| Language: | eng |
| Abstract: | There have been arguments on banks' obligation to fill the vacuum of corporate governance in Eastern Europe. In general, banks haven't shown great interest in control rights based on ownership. The paper explains why, based on interviews with bank managers in Hungary, Czech Republic and Poland. The paper's arguments are based on interviews with bank managers. The reason of banks' small interest of not willing to play major role in corporate governance in central and eastern Europe is clear from the viewpoint of bank managers. The benefits of governing does not justify the costs of it, except in very special cases. That is, the banks seem to have stopped the net flow of funds to enterprises. This has helped to harden the budget constraints and to get companies to adapt to the new economic environment. |
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