NDLI: Corporate Governance in Bulgarian State-owned Banks, 1992-1997

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Corporate Governance in Bulgarian State-owned Banks, 1992-1997

Content Provider	Semantic Scholar
Author	Dilova-Kirkowa, Sonya
Copyright Year	1999
Abstract	Among the problems faced by Bulgarian state-owned banks, one can distinguish their poor corporate governance. The latter is analysed in three dimensions, namely ownership and organisational structures, and bank involvement in enterprise restructuring. Unclear delineated property rights and postponed banking privatisation enforced political interference in institutions responsible for managing state-ownership, thus alleviating the transparency of their activities. Exogenously imposed rules of financial intermediation, including forced mergers, seemed to take some time before yielding positive results. But their negative impact was almost immediate, which reflected in deteriorating financial performance of state-owned banks. We argue that the equity structure of state-owned banks determined their investment operations, while deposits from non-financial sector were widely used for refinancing banking sector. It is questionable whether state-owned banks could be regarded as sound in 1992-97, given a lack of proper provisioning till 1996. Both profitability and efficiency ratios of studied five state-owned banks indicated the anticipated problems.
Starting Page	253
Ending Page	265
Page Count	13
File Format	PDF HTM / HTML
DOI	10.1080/14631379996011
Alternate Webpage(s)	http://www.worldbank.org/wbi/banking/bankingsystems/psbanks/pdf/Dilova-Kirkowa_1999.pdf
Alternate Webpage(s)	http://www.worldbank.org/wbi/banking/finsecpolicy/pillars/pdfs/bib/dilovakorkowa.pdf
Alternate Webpage(s)	https://doi.org/10.1080/14631379996011
Volume Number	11
Language	English
Access Restriction	Open
Content Type	Text
Resource Type	Article

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