IDEAS home Printed from https://ideas.repec.org/a/eee/jcecon/v24y1997i1p44-64.html
   My bibliography  Save this article

On the Role of Banks in Enterprise Restructuring: The Polish Example

Author

Listed:
  • van Wijnbergen, Sweder

Abstract

Governments throughout Eastern Europe have been singularly unsuccessful in dealing with large loss-making SOEs. A more promising approach would create an incentive framework and legal environment where the SOE's major non-government creditor can take the lead in initiating restructuring and the design of a new, viable capital structure. Such a lead bank is much more likely to gain access to the inside knowledge that gives the firm its surplus value as a going concern. The details of such an environment are laid out using the recent Polish attempt to launch a wholesale cleanup of the loss-making SOEs along lines promoted in this paper.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • van Wijnbergen, Sweder, 1997. "On the Role of Banks in Enterprise Restructuring: The Polish Example," Journal of Comparative Economics, Elsevier, vol. 24(1), pages 44-64, February.
  • Handle: RePEc:eee:jcecon:v:24:y:1997:i:1:p:44-64
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0147-5967(96)91409-2
    Download Restriction: Full text for ScienceDirect subscribers only

    As the access to this document is restricted, you may want to look for a different version below or search for a different version of it.

    Other versions of this item:

    References listed on IDEAS

    as
    1. Stanislaw Gomulka, 1995. "The IMF-Supported Programs of Poland and Russia, 1990-1994: Principles, Errors and Results," CASE Network Studies and Analyses 0036, CASE-Center for Social and Economic Research.
    2. Gomulka Stanislaw, 1995. "The IMF-Supported Programs of Poland and Russia, 1990-1994: Principles, Errors, and Results," Journal of Comparative Economics, Elsevier, pages 316-346.
    3. Dittus Peter, 1994. "Bank Reform and Behavior in Central Europe," Journal of Comparative Economics, Elsevier, pages 335-361.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Iraj Hashi, 1995. "The Economics of Bankrupcy, Reorganisation and Liquidation: Lessons for East European Transitional Economies," CASE Network Studies and Analyses 0041, CASE-Center for Social and Economic Research.
    2. Coricelli, Fabrizio, 1996. "Finance and growth in economies in transition," European Economic Review, Elsevier, vol. 40(3-5), pages 645-653, April.
    3. Brada, Josef C. & Kutan, Ali M., 1999. "The end of moderate inflation in three transition economies?," ZEI Working Papers B 21-1999, University of Bonn, ZEI - Center for European Integration Studies.
    4. John P. Bonin & Bozena Leven, 2000. "Can Banks Promote Enterprise Restructuring?: Evidence From a Polish Bank's Experience," William Davidson Institute Working Papers Series 294, William Davidson Institute at the University of Michigan.
    5. Homar, Timotej & van Wijnbergen, Sweder, 2015. "On Zombie Banks and Recessions after Systemic Banking Crises," CEPR Discussion Papers 10963, C.E.P.R. Discussion Papers.
    6. Christiane Bradler & Robert Dur & Susanne Neckermann & Arjan Non, 2016. "Employee Recognition and Performance: A Field Experiment," Management Science, INFORMS, vol. 62(11), pages 3085-3099, November.
    7. Mike Wright & Judit Karsai & Zbigniew Dudzinski & Jan Morovic, 1999. "Transition and Active Investors: Venture Capital in Hungary, Poland and Slovakia," Post-Communist Economies, Taylor & Francis Journals, vol. 11(1), pages 27-46.
    8. Gerald A. McDermott, 2000. "Network Restructuring and Firm Creation in East-Central Europe: A Public-Private Venture," William Davidson Institute Working Papers Series 361, William Davidson Institute at the University of Michigan.
    9. Iraj Hashi, 1997. "Mass Privatisation and Corporate Governance in the Czech Republic," Working Papers 003, Staffordshire University, Business School.
    10. Boris Marinov & Bruce Heiman, 1998. "Company Law and Corporate Governance Renewal in Transition Economies: The Bulgarian Dilemma," European Journal of Law and Economics, Springer, vol. 6(3), pages 231-261, November.
    11. Irena Grosfeld, 1994. "Comparing Financial Systems. Problems of Information and Control in Economies in Transition," CASE Network Studies and Analyses 0026, CASE-Center for Social and Economic Research.
    12. Mojmir Hampl & Roman Matousek, 2000. "Credit Contraction in the Czech Republic: Causes and Effects," Archive of Monetary Policy Division Working Papers 2000/19, Czech National Bank.
    13. Montes-Negret, Fernando & Papi, Luca, 1997. "The Polish experience with bank and enterprise restructuring," Policy Research Working Paper Series 1705, The World Bank.
    14. Dado, Marinela E. & Klingebiel, Daniela, 2002. "Decentralized credtor-led corporate restructuring - cross-country experience," Policy Research Working Paper Series 2901, The World Bank.
    15. John Bonin & Bozena Leven, 2001. "Can State-owned Banks Promote Enterprise Restructuring? Evidence from One Polish Bank's Experience," Post-Communist Economies, Taylor & Francis Journals, vol. 13(4), pages 431-443.
    16. Brown, J. David & Earle, John S. & Vakhitov, Volodymyr, 2006. "Wages, layoffs, and privatization: Evidence from Ukraine," Journal of Comparative Economics, Elsevier, pages 272-294.
    17. Rapacki, Ryszard, 2000. "Corporate Governance in Poland: the Impact of Mass Privatization," EconStor Conference Papers 130544, ZBW - German National Library of Economics.

    More about this item

    JEL classification:

    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • G3 - Financial Economics - - Corporate Finance and Governance

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:jcecon:v:24:y:1997:i:1:p:44-64. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Dana Niculescu). General contact details of provider: http://www.elsevier.com/locate/inca/622864 .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.