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Evolution, not revolution! Corporate Governance Rating 2005 The third edition of the corporate governance rating by the Polish Forum for Corporate Governance, elaborated in cooperation with the daily Rzeczpospolita, shows that the level of corporate governance solutions in public companies becomes higher. This translates into promotion of particular companies up to higher rating categories and into lower investment risk in respect of corporate governance. In this year’s edition of the rating, the highest category A consisted of three companies, namely Bank BPH, Bank Zachodni WBK, and Agora. |
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Still much to be done: Corporate governance in Poland
source: IJDG
[02/02/2007]
International Journal of Disclosure and Governance, Volume 3, Number 4, December 2006, pp. 306-316(11)
The development of public corporations and stock markets in Central Europe has led to the appearance of such fundamental governance problems as expropriation of minority shareholders, managerial myopia, tunnelling and others. The existing regulations and governance arrangements provided under privatisation schemes were unable to accommodate these deficiencies. The market response to that situation comprised bottom-up initiatives developed within the NGO sector (shareholders associations, best practice codes, governance-dedicated websites) and top-down reforms (corporate law adjustments, transposition of UE directives). One of the key elements of these reforms is how to make supervisory boards more independent (from the blockholders) and professional.
Ownership and Financing Structures of Listed and Large Non-listed Corporations
source: The World Bank
[21/07/2006]
Report on the Observance of Standards and Codes (ROSC) - Corporate Governance Country Assessment - Poland
source: The World Bank
[21/07/2006]
Corporate Governance Convergence: Evidence From Takeover Regulation Reforms in Europe
[21/02/2006]
Equity Block Transfers in Transition Economies: Evidence from Poland
source: Tilburg University
[30/10/2005]
What Drives Corporate Governance Reform? Firm-Level Evidence from Eastern Europe
source: The World Bank
[25/08/2005]
Abstract:
We study differences in the use of two corporate governance provisions - cumulative voting and proxy by mail voting - in a sample of 224 firms located in four Eastern European countries. We find a significant relationship between ownership structure and the use of corporate governance provisions. Firms with a controlling owner (owning more than 50% of shares) are less likely to adopt either of the two provisions.
However, firms that have large, minority shareholders are more likely to adopt these provisions. We do not find any significant relationship between the use of these provisions and foreign ownership. Our results suggest that the decision to adopt these corporate governance provisions is influenced by large, minority shareholders in their battle for representation on the board and in managerial decisions.
Corporate governance and financial performance of companies in Poland
source: Warsaw School of Economics (SGH)
[12/05/2005]
The research presented in the paper is aimed at examining the relationship between the level of corporate governance and the financial performance of listed companies in Poland. The corporate governance degree is expressed by the outcomes of a rating of 2003 performed by Polish Corporate Governance Forum. The attempted models are of ordered multinomial type. Endogenous variable represents the rating outcome (A–, B+, B, B–, and C+), while the exogenous variables include various financial indicators evaluated on the basis of the 2002’ financial statements. The estimated ordered logit models show that the level of corporate governance of companies in Poland is associated by their ability to cope with the financial distress, as expressed by the degree of liquidity, profitability and the financial leverage variables. JEL categories: C10 and O57 and G30.
Ownership structure, corporate governance and enterprise performance: empirical results for Ukraine
source: Institute for Economic Research and Policy Consulting
[27/02/2005]
Corporate Governance in Eastern Central Europe: The State of the Art
source: Working Papers Political Science
[06/11/2004]
Corporate governance risk in the Slovak Republic
source: INEKO
[01/07/2004]
The Slovak Republic faces the task to secure conditions for a long-term economic growth. A crucial precondition for an efficient implementation of economic measures is the knowledge of the status quo and of the impacts on the economy and the society as a whole to be expected from the relevant measures.
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