Management challenges in privatization acquisitions in transition economies
Large-scale privatization has been at the core of economic reform in most transition economies, except China, since 1990. Privatization creates special challenges for multinational investors acquiring firms in the process. Such acquisitions differ from conventional acquisitions due to the constraints imposed on strategic action by the privatization context, the depth of subsequent restructuring, and the necessary sensitivity to the local context and the societal changes associated with systemic transition. This paper reviews privatization experiences in Central and Eastern Europe and the former Soviet Union with the aim of identifying key issues for managers operating in transition economies.
Volume (Year): 37 (2002)
Issue (Month): 4 (January)
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