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Restructuring with What Success? A Case Study of Russian Firms

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  • Susan Linz

Abstract

This case study of enterprise restructuring utilizes data collected from thirty-two former state-owned firms in Taganrog, Russia, in the summer and fall of 1999. These data are used to construct three composite measures of enterprise restructuring. When defined broadly to include several dimensions of the restructuring process, the "restructuring threshold" is achieved by half of the privatized firms participating in the project. The firms achieving this threshold are distributed across all industries included in the sample. Regardless of the composite measure used, more than one-third of the former state-owned firms participating in this project attained the "active" restructuring designation. The results indicate that (1) production assortment changes appear to be ongoing among those firms engaged in restructuring activities, (2) employment changes appear to involve a mixed strategy with regard to timely wage payments, workforce size, and the benefits package; and (3) outsider ownership is more prevalent among the group of firms designated as restructuring than among those firms that failed to achieve the "restructuring threshold." To put into perspective the economic and business environment in which these former state-owned firms operate, a comparison is made to a group of de novo firms that were surveyed under the auspices of the same project.

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Bibliographic Info

Paper provided by William Davidson Institute at the University of Michigan in its series William Davidson Institute Working Papers Series with number 324.

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Length: pages
Date of creation: 01 Jul 2000
Date of revision:
Handle: RePEc:wdi:papers:2000-324

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Keywords: Russia; enterprise restructuring; privitization;

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References

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Citations

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Cited by:
  1. Lengyel, György & Janky, Béla, 2004. "Vállalati magatartás és túlélési esélyek a posztszocialista átmenetgazdaságban
    [Corporate behaviour and chances of survival in a post-socialist transitional economy]
    ," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(7), pages 699-716.
  2. Frederic Chabellard, 2001. "Dollarization of Liabilities in Non-tradable Goods Sector," William Davidson Institute Working Papers Series, William Davidson Institute at the University of Michigan 380, William Davidson Institute at the University of Michigan.
  3. Linz, Susan J., 2004. "Motivating Russian workers: analysis of age and gender differences," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, Elsevier, vol. 33(3), pages 261-289, July.
  4. Jose Noguera, 2004. "Is Barter a Hobson’s Choice? A theory of barter and credit rationing," CERGE-EI Working Papers wp239, The Center for Economic Research and Graduate Education - Economic Institute, Prague.
  5. Ichiro Iwasaki, 2007. "Enterprise Reform And Corporate Governance In Russia: A Quantitative Survey," Journal of Economic Surveys, Wiley Blackwell, Wiley Blackwell, vol. 21(5), pages 849-902, December.
  6. José Noguera & Susan J. Linz, 2005. "Barter, Credit, and Welfare: A theoretical inquiry into the barter phenomenon in Russia," William Davidson Institute Working Papers Series, William Davidson Institute at the University of Michigan wp757, William Davidson Institute at the University of Michigan.

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