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A vállalatok pénzügyi fegyelme és növekedési képessége az átalakuló gazdaságban
[Financial discipline and growth capability of firms in a transforming economy]

Author

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  • Tóth, István János

Abstract

A tanulmányban a szerző a pénzügyi fegyelem és a cégek növekedési képessége közötti összefüggéseket vizsgálja a magyar vállalkozások különböző csoportjai körében. A vállalatok pénzügyi és szerződéses fegyelme lényeges hatást gyakorol a cégek és ezáltal az egész gazdaság növekedési képességére. A piacgazdaság intézményi feltételeinek kialakulásához és konszolidációjához hozzátartozik az üzleti partnerek közötti szerződéses viszonyok stabilizálódása is. Az 19921996-os időszak adatainak összehasonlítása alapján pozitív tendenciák ragadhatóak meg: a cégek egyre kisebb hányadát jellemzi a pénzügyi fegyelem megsértése. Ehhez azonban hozzá kell tenni, hogy a túlnyomó többségben lévő kisebb cégek körében e téren sokkal rosszabb a helyzet, és még a döntően exportpiacokra szállító a magyar gazdaság számára kulcsfontosságú cégcsoportban sem elhanyagolható gyakoriságú a fizetési, az adózási és a szerződéses fegyelem megsértése.

Suggested Citation

  • Tóth, István János, 1998. "A vállalatok pénzügyi fegyelme és növekedési képessége az átalakuló gazdaságban [Financial discipline and growth capability of firms in a transforming economy]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(12), pages 1126-1140.
    • Handle: RePEc:ksa:szemle:204
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    References listed on IDEAS

    as
    1. Tóth, István János, 1998. "Vállalkozások tulajdonosi kapcsolatai Magyarországon 19921996 között [Ownership relations of enterprises in Hungary between 19921996]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(6), pages 591-615.
    2. Cornelli, F. & Portes, R. & Schaffer, M., 1996. "The Capital Structure of Firms in Central and Eastern Europe," DELTA Working Papers 96-05, DELTA (Ecole normale supérieure).
    3. Williamson, Oliver E, 1971. "The Vertical Integration of Production: Market Failure Considerations," American Economic Review, American Economic Association, vol. 61(2), pages 112-123, May.
    4. Wendy Carlin & John Van Reenen & Toby Wolfe, 1995. "Enterprise restructuring in early transition: the case study evidence from Central and Eastern Europe1," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 3(4), pages 427-458, December.
    5. Nugent, Jeffrey B. & Nabli, Mustapha K., 1992. "Development of financial markets and the size distribution of manufacturing establishments: International comparisons," World Development, Elsevier, vol. 20(10), pages 1489-1499, October.
    6. Kornai, János, 1997. "Pénzügyi fegyelem és puha költségvetési korlát [Financial discipline and soft budget constraint]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(11), pages 940-953.
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    More about this item

    JEL classification:

    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • L21 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Business Objectives of the Firm
    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
    • P31 - Political Economy and Comparative Economic Systems - - Socialist Institutions and Their Transitions - - - Socialist Enterprises and Their Transitions

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