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Europe > Ukraine

You are looking at 1 - 2 of 2 items for :

  • Type: Journal Issue x
  • Investments: Stocks x
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Cover IMF Working Papers
How Does Privatization Work? Ownership Concentration and Enterprise Performance in Ukraine
Mr. Alexander Pivovarsky
This paper investigates the relationship between ownership concentration and enterprise performance in Ukraine. Using data on 376 medium and large enterprises, it finds that ownership concentration is positively associated with enterprise performance in Ukraine. The paper also finds that concentration of ownership by foreign companies and banks is associated with better performance than ownership concentrated by the domestic owners. Ownership by Ukrainian investment funds and holding companies does not have a positive effect on performance. In contrast to predictions by many observers of early transition, privatization methods had a lasting effect on ownership structure in Ukraine.
Keywords:
WP; ownership concentration; enterprise performance; ownership structure; joint stock; Corporate Governance; Ownership; Privatization; Transition; privatization method; bank rank; Stocks; Total factor productivity; Labor productivity; Stock markets; Central and Eastern Europe; Europe; Global
Cover IMF Working Papers
Government Expenditure Arrears: Securitization and Other Solutions
Mr. Alberto M. Ramos
On occasions, by running arrears, governments have unilaterally borrowed from domestic agents. These agents ended up with implicit claims on the government for which they had no title and that would be honored, at best, on an unspecified future date and for an uncertain value. Having untitled assets limits creditors’ financial management capacity, because they cannot trade or enforce these claims. This paper presents several options for addressing the arrears problem. It recommends that the government recognize its implicit financial liabilities, set a timetable for their clearance, and issue market-negotiable titles (securitize). Several country experiences with securitization operations are documented.
Keywords:
WP; aggregate demand; cash budget; government arrears; arrears problem; debt service; immediate payment; Treasury bill holder; BRO countries; Securitization; Russia; payment arrears; securitization operation; Arrears; Securities; Stocks; Treasury bills and bonds; Currencies; Baltics