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Privatization, Restructuring, Corporate Governance and the Behaviour of Firms in Transition Economies

In: Change Management in Transition Economies

Author

Listed:
  • Josef C. Brada

Abstract

This chapter uses published case studies of firms in the Czech Republic, Hungary and Poland to investigate how firms reacted to the pressures of transition. Most firms made short-term adjustments to outputs and inputs, but fewer made strategic adjustments. Nevertheless these short-term responses influenced their ability to implement long-term strategies for survival and growth. In general, successful firms were those which strengthened their marketing function, reorganized their internal decision making and information systems, invested in human resources and created effective mechanisms of corporate governance. The shedding of workers and large investments in capital and technology were, rather surprisingly, less important features of successful restructuring.

Suggested Citation

  • Josef C. Brada, 2003. "Privatization, Restructuring, Corporate Governance and the Behaviour of Firms in Transition Economies," Palgrave Macmillan Books, in: Heinz-Jürgen Stüting & Wolfgang Dorow & Frank Claassen & Susanne Blazejewski (ed.), Change Management in Transition Economies, chapter 5, pages 55-70, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-4039-3784-1_5
    DOI: 10.1057/9781403937841_5
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    Cited by:

    1. T.O. Vlasenko & R.F. Chernysh & A.V. Dergach & T.V. Lobunets & O.B. Kurylо, 2020. "Investment Security Management in Transition Economies: Legal and Organizational Aspects," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(2), pages 200-209.

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