Electronic Resource
Oxford, UK
:
Blackwell Publishing Ltd
Journal of international financial management & accounting
5 (1994), S. 0
ISSN:
1467-646X
Source:
Blackwell Publishing Journal Backfiles 1879-2005
Topics:
Economics
Notes:
As former East Bloc countries attempt to move from state-controlled to market economies they are privatizing their economic enterprises in large numbers. Privatization generally requires the valuation of erstwhile government-owned assets. This has definite accounting and financial reporting implications particularly if the business entity hopes to attract capital from abroad. Foreign investors are likely to insist on financial information in a form that meets internationally acceptable norms before they provide capital to these businesses. This article looks at the case of a Hungarian company that has privatized recently. It describes the process from the managers' initial decision to ‘go public’ to the final issuance of the shares. It highlights certain practices that, while unusual by Western standards, are important components of the privatization process in Hungary. The Hungarian experience is of particular interest to other former East Bloc countries since Hungary is several years ahead of them on the road to privatization. Lessons learned from the Hungarian experience could assist them better manage their privatization programs. It provides financial managers and academics useful insights into the innovative vehicles for going public that are being developed by countries that have traditionally been perceived as being backward in their accounting and finance practices.
Type of Medium:
Electronic Resource
URL:
http://dx.doi.org/10.1111/j.1467-646X.1994.tb00046.x
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