Transitional Adjustment of Large Companies in Slovenia and Economic Policy
AbstractThis article analyses transition crisis in large companies using the case of Slovenia. According to the accounting data for 1991 and 1997 a great part of the transition crisis was centred in large companies. In Slovenia, in general crisis conditions in large companies arose because of a very high or very low capital/labour ratio and the inability of management to cope with redundant capital or labour. Only recently have unfavourable market and financial positions become more important, but they are still not the most important factor. Companies which oriented themselves to foreign markets and invested, succeeded in making profits in spite of increased debts and an unfavourable debt/equity ratio. Large companies in state ownership have preserved soft budget constraints. Many companies shrank drastically; they have survived, but their efficiency is low.
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Bibliographic InfoArticle provided by Taylor and Francis Journals in its journal Post-Communist Economies.
Volume (Year): 13 (2001)
Issue (Month): 3 ()
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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Kornai, Janos, 1986. "The Soft Budget Constraint," Kyklos, Wiley Blackwell, vol. 39(1), pages 3-30.
- You, Jong-Il, 1995. "Small Firms in Economic Theory," Cambridge Journal of Economics, Oxford University Press, vol. 19(3), pages 441-62, June.
- Pavel Ciaian, 2004.
"Credit rationing with heterogeneous borrowers in transition economies: evidence from Slovakia,"
Taylor and Francis Journals, vol. 16(1), pages 39-46.
- Pavel Ciaian, 2004. "Credit Rationing with Heterogeneous Borrowers in Transition Economies: Evidence from Slovakia," EERI Research Paper Series EERI_RP_2004_02, Economics and Econometrics Research Institute (EERI), Brussels.
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