Market for corporate control in Ukraine

Abstract

The paper considers the recent trends at the market for corporate control in Ukraine. As a result of the undertaken original research, some very important conclusions have been made. First of all, during 1998-2001 corporate ownership structure in Ukraine became more concentrated, in contrast to such country in transition as Russia. Second, the more concentrated is the ownership structure of Ukrainian companies the lower corporate market performance happens to be. Besides, the group of controllers, who are most efficient in corporate governance, are for-eign institutional investors. Finally, the most active players at the market for corporate control in Ukraine are financial-industrial groups, but their activity in buying shares of Ukrainian companies is not correspondent to the lower degree of efficiency in corporate governance.

Розглядаються тенденції на ринку корпоративного контролю в Україні. Під час 1998-2001 корпоративної структура власності в Україні стала більш концентрованою, на відміну від таких країн з перехідною економікою, як Росія. Найбільш активними гравцями на ринку корпоративного контролю в Україні є фінансово-промислові групи.