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Investment, and Contract Hold-Ups in Transition: Evidence from Hungary /доклад на 10 конгрессе ЕААЕ, Exploring Diversity in the European Agri-Food System, Zaragoza, Spain, 28-31 August 2002

Опубликовано на портале: 10-04-2005
This paper analyses empirically the effect of "hold-ups" on capital investment in farms using a sample of 318 Hungarian enterprises, surveyed over 1997. A negative relationship arises between capital investment and the incidence of hold-up behaviour. This relationship is affected by farm’s wealth and liquidity position, the quality of legal enforcement of contracts, by whether farms have contracted sales to foreign processors, and whether they are established as successors t pre-reform organisations rather than start-up businesses.

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Wilbur Maki, Richard Lichty
George Seperich, James Beierlein, Michael Woolverton