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Restructuring of Ukrainian Enterprises after Privatization: Does Ownership Structure Matter?

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Author Info
Irina Akimova (Kharkov Polytechnic University)
Gerhard Schwödiauer (Otto von Guericke Universität Magdeburg)
Abstract

For a set of data from a survey of middle-sized and large industrial enterprise in Ukraine after privatization regression equations are estimated that explain the response of restructuring and performance indicators to ownership structures, competitive pressures, and hardening budget constraints. While ownership matters less for restructuring activity than competition and budget constraints, in particular concentrated outside ownership does have a significant positive impact on the firms’ performance.

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Paper provided by EconWPA in its series Industrial Organization with number 9903003.

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Length: 44 pages
Date of creation: 24 Mar 1999
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Handle: RePEc:wpa:wuwpio:9903003

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Related research
Keywords: restructuring enterprise privatization competition;

Find related papers by JEL classification:
L33 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Boundaries of Public and Private Enterprise; Privatization; Contracting Out
P00 - Economic Systems - - General - - - General

References listed on IDEAS
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  1. Ickes, B. & Ryterman, R. & Tenev, S., 1995. "On Your Marx, Get Set, Go: The Role of Competition in Enterprise Adjustment," Papers 11-95-9, Pennsylvania State - Department of Economics.
  2. Wendy Carlin & Philippe Aghion, 1996. "Restructuring outcomes and the evolution of ownership patterns in Central and Eastern Europe," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 4(2), pages 371-388, October. [Downloadable!] (restricted)
  3. Simeon Djankov & Gerhard Pohl, 1997. "Restructuring of Large Firms in Slovakia," William Davidson Institute Working Papers Series 73, William Davidson Institute at the University of Michigan Stephen M. Ross Business School. [Downloadable!]
  4. E, S & G, A & S, I, 1995. "Shocks and Adjustment by Firms in Transition: A Comparative Study," Journal of Comparative Economics, Elsevier, vol. 21(2), pages 131-153, October. [Downloadable!] (restricted)
  5. John Earle & Saul Estrin, 2003. "Privatization, Competition, and Budget Constraints: Disciplining Enterprises in Russia," Economic Change and Restructuring, Springer, vol. 36(1), pages 1-22, March. [Downloadable!] (restricted)
  6. Djankov, Simeon, 1999. "Ownership structure and enterprise restructuring in six newly independent states," Policy Research Working Paper Series 2047, The World Bank. [Downloadable!]
  7. Frydman, Roman & Gray, Cheryl & Hessel, Marek & Rapaczynski, Andrzej, 1997. "Private Ownership and Corporate Performance: Some Lessons from Transition Economies," Working Papers 97-28, C.V. Starr Center for Applied Economics, New York University. [Downloadable!]
  8. Boycko, Maxim & Shleifer, Andrei & Vishny, Robert W, 1996. "A Theory of Privatisation," Economic Journal, Royal Economic Society, vol. 106(435), pages 309-19, March. [Downloadable!] (restricted)
  9. Pohl, G. & Anderson, R.E. & Claessens, S. & Djankov, S., 1997. "Privatization and Restructuring in Central and Eastern Europe: Evidence and Policy Options," Papers 368, World Bank - Technical Papers.
  10. Simeon Djankov & Gerhard Pohl, 1998. "The restructuring of large firms in the Slovak Republic," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 6(1), pages 67-85, 05. [Downloadable!] (restricted)
  11. Stijn Claessens & R. Kyle Peters, 1997. "State enterprise performance and soft budget constraints: The case of Bulgaria," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 5(2), pages 305-322, November. [Downloadable!] (restricted)
  12. Cappelle-Konijnenberg, J. van, 1995. "Restructuring, firm performance and control mechanisms," Research Memorandum 710, Tilburg University, Faculty of Economics and Business Administration. [Downloadable!]
  13. Frydman, Roman & Gray, Cheryl W. & Hessel, Marek & Rapaczynski, Andrzej, 1997. "Private ownership and corporate performance : some lessons from transition economies," Policy Research Working Paper Series 1830, The World Bank. [Downloadable!]
  14. Djankov, Simeon & Pohl, Gerhard, 1997. "The restructuring of large firms in Slovakia," Policy Research Working Paper Series 1758, The World Bank. [Downloadable!]
  15. Earle, John S & Estrin, Saul, 1997. "After Voucher Privatization: The Structure of Corporate Ownership in Russian Manufacturing Industry," CEPR Discussion Papers 1736, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
  16. Brian Pinto & Marek Belka & Stefan Krajewski, 1993. "Transforming State Enterprises in Poland: Evidence on Adjustment by Manufacturing Firms," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 24(1993-1), pages 213-270. [Downloadable!]
  17. Philippe Aghion & Olivier J. Blanchard, 1998. "On privatization methods in Eastern Europe and their implications," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 6(1), pages 87-99, 05. [Downloadable!] (restricted)
  18. John Vickers & George Yarrow, 1988. "Privatization: An Economic Analysis," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262720116, December.
  19. J.S. Earle & S. Estrin, 1996. "Privatization Versus Competition: Changing Enterprise Behavior in Russia," Working Papers wp96049, International Institute for Applied Systems Analysis. [Downloadable!]
    Other versions:
  20. G. Alfandari & M.E. Schaffer, 1996. ""Arrears" in the Russian Enterprise Sector," CERT Discussion Papers 9608, Centre for Economic Reform and Transformation, Heriot Watt University. [Downloadable!]
  21. Shleifer, Andrei & Vishny, Robert W, 1994. "Politicians and Firms," The Quarterly Journal of Economics, MIT Press, vol. 109(4), pages 995-1025, November. [Downloadable!] (restricted)
  22. Schaffer, Mark E, 1995. "Government Subsidies to Enterprises in Central and Eastern Europe: Budgetary Subsidies and Tax Arrears," CEPR Discussion Papers 1144, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
  23. Susan J. Linz & Gary Krueger, 1998. "Enterprise Restructuring in Russia's Transition Economy: Formal and Informal Mechanisms," William Davidson Institute Working Papers Series 152, William Davidson Institute at the University of Michigan Stephen M. Ross Business School. [Downloadable!]
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