[Conference:] BASEES annual conference Cambridge, 27-29 March 1999
The present paper aims to provide some new evidence on how the insiders, i.e. employees of portfolio companies, view the Polish mass privatisation scheme. Based on two inquiries conducted in selected NIF firms in 1996 and 1998, it simultaneously offers a comparative analysis of the changes in employee perceptions of major effects of NIFs’ activities. Except for some minor differences, the format of the two inquiries was identical which allows to directly compare the results of the ’96 and ’98 editions. Each inquiry consisted of three parts. Questions included in the first part were aimed to explore respondents’ perceptions of the NIF programme in general including expected macroeconomic results of its implementation and the desired size of the block of shares to be given away to the employees of privatised firms. Part two comprised questions concerning the situation in portfolio companies, i.e. direct employers of respondents to the inquiry. This group of questions was designed with a view to assess in particular: (i) expectations of portfolio companies’ employees vis-a-vis the lead NIF and the respective fund manager, (ii) employee perception of the effects of NIF activities at the enterprise level. Finally, questions in part three were aimed to get a feedback on the role of NIFs and fund managers as determinants of respondents’ personal situation in the workplace.
Paper prepared for BASEES annual conference Cambridge, 27-29 March 1999