... is that CSs create a multiplier effect in a sense that, say in a two‐firm setting, firm A gets a share in firm B's profit, which includes firm B's share in firm A's profit, which includes firm A's share in firm B's profit, and so on [2] . Proposition 2. Assume z > 0 . Then in the presence...

... are quoted on the Stock Exchange in Warsaw from the beginning of May 1997. New and controversial roles of management firms are discussed in this paper. © MCB UP Limited 2003 Poland Privatization Investment funds Shares A state run economy, in force in the post‐war Poland for over 40...