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Mihályi Peter (Corvinus University of Budapest)
The Motivation of Business Leaders in Socialist and Market-Based Systems (an Essay to Celebrate the 90th Birthday of János Kornai)
Economics and Business Review, 2017, vol. 3 (17), nr 3, s. 100-111, rys., tab., bibliogr. 19 poz.
Słowa kluczowe
Analiza porównawcza, Wielowymiarowa analiza porównawcza, Ład korporacyjny, Ustrój socjalistyczny, Gospodarka socjalistyczna, Społeczeństwo socjalistyczne, Badanie przedsiębiorstw
Comparative analysis, Multi-dimensional comparative analysis, Corporate governance, Socialist system, Socialist economy, Socialist society, Enterprises study
Klasyfikacja JEL: B31, G32, P31
Kornai Janos
Janos Kornai was well ahead of mainstream economic thought in comprehending that senior executives have been operating in an intrinsically contradictory situation both in socialist and market-based economies and that there is no full remedy to handle conflicts of interest which arise. Kornai presented a comprehensive theory on this in his most important book, the Anti-Equilibrium, as early as 1971. The difficulties experienced by state-owned enterprises (SOEs) were not rooted merely in the socialist ownership form, but they were, to a significant extent, caused by the fact that SOEs were typically very large firms. (original abstract)
Dostępne w
Biblioteka Główna Uniwersytetu Ekonomicznego w Krakowie
Biblioteka Szkoły Głównej Handlowej w Warszawie
Biblioteka Główna Uniwersytetu Ekonomicznego w Katowicach
Biblioteka Główna Uniwersytetu Ekonomicznego w Poznaniu
Pełny tekst
  1. Arrow, K. J., & Debreu, G. (1954). Existence of an equilibrium for a competitive economy. Econometrica, 22(3), 265-290.
  2. Bauer, T. (1976). The contradictory position of the enterprise under the new Hungarian economic mechanism. Eastern European Economics, 15(1), 3-23.
  3. Berle, A. A., & Means, G. C. (1932). The modern corporation and private property. New York: Macmillan.
  4. Demsetz, H., & Lehn, K. (1985). The structure of corporate ownership: causes and consequences. Journal of Political Economy, 93(6), 1155-1177.
  5. Fama, E., & Jensen, M. (1983). Separation of ownership and control. Journal of Law and Economics, 26(2), 301-325.
  6. Galbraith, J. K. (1967). The new industrial state. Boston: Houghton Mifflin.
  7. Girma, S., Thompson, S., & Wright, P. (2002). Multinational activity and CEO compensation. Preliminary evidence from large UK firms. Weltwirtschaftliches Archiv, 138(4), 680-693.
  8. Kahneman, D. (2011). Thinking, fast and slow. New York: Farrar, Straus and Giroux.
  9. Keynes, J. M. (1936/1964). The general theory of employment, interest, and money, A Harvest/HBJ edition, New York and London.
  10. Kornai, J. (1971). Anti-equilibrium. On economic systems theory and the tasks of research. Amsterdam: North Holland.
  11. Kornai, J. (1980). The economics of shortage. Amsterdam: North-Holland.
  12. Kornai, J. (1992). The socialist system. The political economy of communism. Princeton: Princeton University Press.
  13. Liberman, J. (1962). Plan, pribil, premija. Pravda, 9 September.
  14. Mihalyi, P. (1993). Property rights and privatization. The threeagent model. A case study on Hungary. Eastern European Economics, 31(2), 564.
  15. Mihalyi, P. (1997). Corporate governance during and after privatisation. The lessons from Hungary. Discussion Paper, No. 17/97. Frankfurt: Frankfurter Institut fur Transformationsstudien.
  16. Mihalyi, P. (2013). Janos Kornai's Anti-equilibrium, a harbinger of evolutionary economics. Acta Oeconomica, 63(3), 367-375.
  17. Mihalyi, P. (2017). Kaldor and Kornai on economics without equilibrium: two life courses. Acta Oeconomica, Special issue, 47-66.
  18. Pejovich, S. (1990). The economics of property rights. Towards a theory of comparative systems. Boston: Kluwer Academic Publishers.
  19. Smith, A. (1776/1976). An inquiry into the wealth of the nations. Chicago: Chicago University Press.
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