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Post-Privatization Enterprise Restructuring

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  • 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.

Suggested Citation

  • Morris Bornstein, 2000. "Post-Privatization Enterprise Restructuring," William Davidson Institute Working Papers Series 327, William Davidson Institute at the University of Michigan.
  • Handle: RePEc:wdi:papers:2000-327
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    File URL: http://deepblue.lib.umich.edu/bitstream/2027.42/39711/3/wp327.pdf
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    References listed on IDEAS

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    4. 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.
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    Cited by:

    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.
    2. repec:kap:iaecre:v:14:y:2008:i:2:p:215-227 is not listed on IDEAS
    3. Lengyel, György & Janky, Béla, 2004. "Vállalati magatartás és túlélési esélyek a posztszocialista átmenetgazdaságban
      [Corporate behaviour and chances of survival in a post-socialist transitional economy]
      ," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(7), pages 699-716.
    4. Jaime Andrés Collazos & Héctor Ochoa, 2005. "The Effects of a Monopolistic Market Structure on the Assessment of Privatized Companies: The Colombia Case," ENSAYOS SOBRE ECONOMÍA REGIONAL (ESER) 013869, BANCO DE LA REPÚBLICA - ECONOMÍA REGIONAL.

    More about this item

    Keywords

    privatization; corporate governance; enterprise restructuring; performance indicators; foreign direct investment;

    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 - - - Comparison of Public and Private Enterprise and Nonprofit Institutions; Privatization; Contracting Out
    • P31 - Economic Systems - - Socialist Institutions and Their Transitions - - - Socialist Enterprises and Their Transitions

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