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Management challenges in privatization acquisitions in transition economies

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  • Meyer, Klaus E.
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    Abstract

    Large-scale privatization has been at the core of economic reform in most transition economies, except China, since 1990. Privatization creates special challenges for multinational investors acquiring firms in the process. Such acquisitions differ from conventional acquisitions due to the constraints imposed on strategic action by the privatization context, the depth of subsequent restructuring, and the necessary sensitivity to the local context and the societal changes associated with systemic transition. This paper reviews privatization experiences in Central and Eastern Europe and the former Soviet Union with the aim of identifying key issues for managers operating in transition economies.

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    Bibliographic Info

    Article provided by Elsevier in its journal Journal of World Business.

    Volume (Year): 37 (2002)
    Issue (Month): 4 (January)
    Pages: 266-276

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    Handle: RePEc:eee:worbus:v:37:y:2002:i:4:p:266-276

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    1. Julio O de Castro & Klaus Uhlenbruck, 1997. "Characteristics of Privatization: Evidence from Developed, Less-Developed and Former Communist Countries," Journal of International Business Studies, Palgrave Macmillan, vol. 28(1), pages 123-143, March.
    2. Preet S Aulakh & Masaaki Kotabe, 1997. "Antecedents and Performance Implications of Channel Integration in Foreign Markets," Journal of International Business Studies, Palgrave Macmillan, vol. 28(1), pages 145-175, March.
    3. Klaus Uhlenbruck & Klaus E. Meyer & Michael A. Hitt, 2003. "Organizational Transformation in Transition Economies: Resource-based and Organizational Learning Perspectives," Journal of Management Studies, Wiley Blackwell, vol. 40(2), pages 257-282, 03.
    4. Obloj, Krzysztof & Thomas, Howard, 1998. "Transforming former state-owned companies into market competitors in Poland:: The ABB experience," European Management Journal, Elsevier, vol. 16(4), pages 390-399, August.
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    6. Ramamurti, Ravi, 2000. "Risks and rewards in the globalization of telecommunications in emerging economies," Journal of World Business, Elsevier, vol. 35(2), pages 149-170, July.
    7. Ravenscraft, David J & Scherer, F M, 1987. "Life after Takeover," Journal of Industrial Economics, Wiley Blackwell, vol. 36(2), pages 147-56, December.
    8. Antal-Mokos,Zoltan, 1998. "Privatisation, Politics, and Economic Performance in Hungary," Cambridge Books, Cambridge University Press, number 9780521593397, April.
    9. John Fahy & Graham Hooley & Tony Cox & Jozsef Beracs & Krzysztof Fonfara & Boris Snoj, 2000. "The Development and Impact of Marketing Capabilities in Central Europe," Journal of International Business Studies, Palgrave Macmillan, vol. 31(1), pages 63-81, March.
    10. Julian Birkinshaw, 2000. "Managing the Post-acquisition Integration Process: How the Human Iintegration and Task Integration Processes Interact to Foster Value Creation," Journal of Management Studies, Wiley Blackwell, vol. 37, pages 395-425, 05.
    11. Klaus E. Meyer & Enese Lieb-Dóczy, 2003. "Post-Acquisition Restructuring as Evolutionary Process," Journal of Management Studies, Wiley Blackwell, vol. 40(2), pages 459-482, 03.
    12. Yadong Luo & Oded Shenkar & Mee-Kau Nyaw, 2001. "A Dual Parent Perspective on Control and Performance in International Joint Ventures: Lessons From a Developing Economy," Journal of International Business Studies, Palgrave Macmillan, vol. 32(1), pages 41-58, March.
    13. Josef C. Brada, 1996. "Privatization Is Transition--Or Is It?," Journal of Economic Perspectives, American Economic Association, vol. 10(2), pages 67-86, Spring.
    14. Klaus E Meyer & Saul Estrin, 2001. "Brownfield Entry in Emerging Markets," Journal of International Business Studies, Palgrave Macmillan, vol. 32(3), pages 575-584, September.
    15. McCarthy, Daniel J. & Puffer, Sheila M. & Naumov, Alexander I., 2000. "Russia's retreat to statization and the implications for business," Journal of World Business, Elsevier, vol. 35(3), pages 256-274.
    16. Klaus E Meyer, 2000. "International Production Networks and Enterprise Transformation in Central Europe," Comparative Economic Studies, Palgrave Macmillan, vol. 42(1), pages 135-150, April.
    17. Michailova, Snejina, 2002. "When common sense becomes uncommon: participation and empowerment in Russian companies with Western participation," Journal of World Business, Elsevier, vol. 37(3), pages 180-187, October.
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    Cited by:
    1. Gorodnichenko, Yuriy & Schnitzer, Monika, 2010. "Financial constraints and innovation: Why poor countries don't catchup," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 341, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
    2. Klaus E. Meyer & Saul Estrin & Sumon Kumar Bhaumik & Mike W. Peng, 2009. "Institutions, resources and entry strategies in emerging economies," LSE Research Online Documents on Economics 4217, London School of Economics and Political Science, LSE Library.
    3. Carney, Richard W. & Liu, Wai-Man (Raymond) & Ngo, Phong T. H., 2012. "Responding to Financial Crisis: The Rise of State Ownership and Implications for Firm Performance," MPRA Paper 43600, University Library of Munich, Germany.
    4. Peng, Mike W. & Buck, Trevor & Filatotchev, Igor, 2003. "Do outside directors and new managers help improve firm performance? An exploratory study in Russian privatization," Journal of World Business, Elsevier, vol. 38(4), pages 348-360, November.
    5. Thierry Nobre & Dmitry Riskal, 2003. "L'Évolution Des Pratiques De Contrôle De Gestion Dans Les Entreprises Russes Après 1992," Post-Print halshs-00582807, HAL.
    6. Batiz-Lazo, Bernardo & Blanco Mendialdua, Ana & Urionabarrenetxea Zabalandikoetxea, Sara, 2001. "Growth of the Spanish Multinational in Latin America during the 1990s," MPRA Paper 929, University Library of Munich, Germany, revised Dec 2005.
    7. Mehdi Farashahi & Taïeb Hafsi, 2009. "Strategy of firms in unstable institutional environments," Asia Pacific Journal of Management, Springer, vol. 26(4), pages 643-666, December.

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