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Post-Privatization Enterprise Restructuring

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Author Info
Morris Bornstein
Abstract

Post-privatization restructuring of former state-owned enterprises (FSOEs) encompasses both shorter-run "defensive" actions and longer-run "strategic" measures. Restructuring involves changes in corporate governance, organizational structure, management, labor, capital, technology, output, and sales. Various performance indicators may measure the results of restructuring, but care is required in the selection and interpretation of indicators. In the restructuring of FSOEs foreign strategic investors have many advantages over domestic investors. The study includes examples from experience in the Czech Republic, Hungary, and Poland.

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Publisher Info
Paper provided by William Davidson Institute at the University of Michigan Stephen M. Ross Business School in its series William Davidson Institute Working Papers Series with number 327.

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Date of creation: 01 Jul 2000
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Handle: RePEc:wdi:papers:2000-327

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Related research
Keywords: privatization; corporate governance; enterprise restructuring; performance indicators; foreign direct investment;

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Find related papers by JEL classification:
F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
L33 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Boundaries of Public and Private Enterprise; Privatization; Contracting Out
P31 - Economic Systems - - Socialist Institutions and Their Transitions - - - Socialist Enterprises and Their Transitions

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References listed on IDEAS
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.:
  1. Jai S. Mah, Donatas Tamulaitis, 2000. "A Note on Investment Incentives in the WTO and the Transition Economies," Post-Communist Economies, Taylor and Francis Journals, vol. 12(1), pages 119-130, March. [Downloadable!] (restricted)
  2. Dutz, Mark A. & Vagliasindi, Maria, 2000. "Competition policy implementation in transition economies: An empirical assessment," European Economic Review, Elsevier, vol. 44(4-6), pages 762-772, May. [Downloadable!] (restricted)
  3. Djankov, Simeon, 1999. "Ownership structure and enterprise restructuring in six newly independent states," Policy Research Working Paper Series 2047, The World Bank. [Downloadable!]
  4. Roman Frydman & Cheryl Gray & Marek Hessel & Andrzej Rapaczynski, 1999. "When Does Privatization Work? The Impact Of Private Ownership On Corporate Performance In The Transition Economies," The Quarterly Journal of Economics, MIT Press, vol. 114(4), pages 1153-1191, November. [Downloadable!] (restricted)
  5. Morris Bornstein, 1997. "Non-standard methods in the privatization strategies of the Czech Republic, Hungary and Poland," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 5(2), pages 323-338, November. [Downloadable!] (restricted)
  6. Claessens, Stijn & Djankov, Simeon, 1999. "Enterprise performance and management turnover in the Czech Republic," European Economic Review, Elsevier, vol. 43(4-6), pages 1115-1124, April. [Downloadable!] (restricted)
  7. A. Canning & P.G. Hare, 1996. "Political Economy of Privatization in Hungary: A Progress Report," CERT Discussion Papers 9613, Centre for Economic Reform and Transformation, Heriot Watt University. [Downloadable!]
  8. Grosfeld, I. & Roland, G., 1995. "Defensive and Strategic Restructuring in Central European Enterprises," DELTA Working Papers 95-18, DELTA (Ecole normale supérieure).
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  9. Andrzej Bratkowski & Irena Grosfeld & Jacek Rostowski, 2000. "Investment and Finance in "de novo" private firms: Empirical Results from the Czech Republic, Hungary and Poland," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 8(1), pages 101-116, March. [Downloadable!] (restricted)
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  10. Josef C. Brada, 1998. "Management 101: Behavior of Firms in Transition Economies," William Davidson Institute Working Papers Series 133, William Davidson Institute at the University of Michigan Stephen M. Ross Business School. [Downloadable!]
  11. Wendy Carlin & Saul Estrin & Mark E. Schaffer, 1999. "Measuring Progress in Transition and towards EU Accession. A comparison of manufacturing firms in Poland, Romania and Spain," CERT Discussion Papers 9902, Centre for Economic Reform and Transformation, Heriot Watt University. [Downloadable!]
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  12. Shleifer, Andrei & Vishny, Robert W, 1997. " A Survey of Corporate Governance," Journal of Finance, American Finance Association, vol. 52(2), pages 737-83, June. [Downloadable!] (restricted)
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  13. Boeri, Tito, 1997. "Labour-Market Reforms in Transition Economies," Oxford Review of Economic Policy, Oxford University Press, vol. 13(2), pages 126-40, Summer.
  14. Aghion, Philippe & Blanchard, Olivier & Burgess, Robin, 1994. "The behaviour of state firms in eastern Europe, pre-privatisation," European Economic Review, Elsevier, vol. 38(6), pages 1327-1349, June. [Downloadable!] (restricted)
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Cited by:
(explanations, 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.)

  1. Mario, Cuevas, 2007. "A Practical Guide to the Assessment of the Vulnerability of the Non-Financial Private Sector," MPRA Paper 1375, University Library of Munich, Germany. [Downloadable!]
  2. Jennifer Foo & Dorota Witkowska, 2008. "Transitional Progress and Business Challenges," International Advances in Economic Research, Springer, vol. 14(2), pages 215-227, May. [Downloadable!] (restricted)
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