VÝVOJ FIREMNÝCH SKUPÍN AKO DôSLEDOK KONCENTRÁCIE VLASTNÍCTVA A KONTROLY PO ROKU 1993: PRÍKLAD ČESKEJ REPUBLIKY A SLOVENSKEJ REPUBLIKY
Development of corporate groups as a consequence of ownership concentration and control after 1993: Case of Czech Republic
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The paper focuses on the corporate groups (CGs), which have emerged in the Czech Republic and Slovakia since 1993. While the investment companies and industrial groups dominated in early 1990s, later huge pyramid-like structures occurred. Nowadays, financial CGs are among the most powerful domestic actors. We analyze the ownership concentration forms and the CGs´ impact on the patterns of corporate restructuring. Moreover, a typology of CGs is presented. The results indicate that group-related process of ownership concentration exists during the transition; the forms of concentration used by CGs change over time; and CGs can sometimes keep concentrated ownership structure of the firms unchanged.
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