Restructuring of Insider-Dominated Firms

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Publisher :
ISBN 13 :
Total Pages : 17 pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis Restructuring of Insider-Dominated Firms by : Simeon Djankov

Download or read book Restructuring of Insider-Dominated Firms written by Simeon Djankov and published by . This book was released on 2016 with total page 17 pages. Available in PDF, EPUB and Kindle. Book excerpt: In two former Soviet republics, restructuring was faster in privatized companies that were bought by their managers than it was in companies in which managers received significant ownership stakes for free. Managers' incentives to restructure decrease when they regard their newly acquired ownership as a windfall gain. Using enterprise survey data for 1995-97, Djankov studies and compares how different modes of privatizing to insiders affect enterprise restructuring in two former Soviet republics, Georgia and Moldova.Restructuring in companies in which incumbent managers received significant ownership stakes for free was similar to that in companies that were still state-owned. By contrast, restructuring was faster in companies bought by their managers. Djankov interprets these results as suggesting that managers' incentives to restructure decrease when they regard their newly acquired ownership as a windfall gain.This paper - a product of the Financial Economics Unit, Financial Sector Practice Department - is part of a larger effort in the department to study the restructuring process in transition economies.

Restructuring of Insider-dominated Firms

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Publisher : World Bank Publications
ISBN 13 :
Total Pages : 21 pages
Book Rating : 4./5 ( download)

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Book Synopsis Restructuring of Insider-dominated Firms by : Simeon Djankov

Download or read book Restructuring of Insider-dominated Firms written by Simeon Djankov and published by World Bank Publications. This book was released on 1999 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study the effects of different modalities of privatization to insiders on the restructuring process in two former Soviet republics - Georgia and Moldova - using enterprise survey data for 1995-97. Enterprise restructuring was similar in companies where incumbent managers received significant ownership stakes for free and in state-owned companies. In contrast, the restructuring process was faster in companies bought by their managers. We interpret these results to suggest that managers' incentives to restructure decrease when they perceive their newly acquired ownership as a windfall gain.

Enterprise Restructuring and Unemployment in Models of Transition

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Publisher : World Bank Publications
ISBN 13 : 9780821341681
Total Pages : 244 pages
Book Rating : 4.3/5 (416 download)

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Book Synopsis Enterprise Restructuring and Unemployment in Models of Transition by : Simon Commander

Download or read book Enterprise Restructuring and Unemployment in Models of Transition written by Simon Commander and published by World Bank Publications. This book was released on 1998-01-01 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume is primarily concerned with the first key component of transition: restructuring—the changing behavior of firms and their complex interaction with the labor market, most particularly with unemployment. Chapter 1 gives an overview of firm behavior, restructuring, and the labor market in the transition. Chapter 2 focuses on the effect of output, ownership, and legal form on employment and wages in Central European firms. Chapter 3 explores employment and wage setting in three stages of Hungary's labor market transition. Chapter 4 considers enterprises in the Polish transition. Chapter 5 explains labor market flows in the midst of structural change. Chapter 6 explores the role of unemployment and restructuring in the transition, and chapter 7 presents a numerical model of transition. Emphasis is placed on the Czech and Slovak Republics, Bulgaria, Hungary, Poland, and Russia.

DEFENSIVE AND STRATEGIC RESTRUCTURING OF FIRMS DURING THE TRANSITION TO A MARKET ECONOMY

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Publisher :
ISBN 13 :
Total Pages : 39 pages
Book Rating : 4.L/5 ( download)

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Book Synopsis DEFENSIVE AND STRATEGIC RESTRUCTURING OF FIRMS DURING THE TRANSITION TO A MARKET ECONOMY by : POLONA DOMADENIKS, JANEZ PRASNIKA AND JAN SVEJNAR

Download or read book DEFENSIVE AND STRATEGIC RESTRUCTURING OF FIRMS DURING THE TRANSITION TO A MARKET ECONOMY written by POLONA DOMADENIKS, JANEZ PRASNIKA AND JAN SVEJNAR and published by . This book was released on 2003 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Analysis of Firms and Employees

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Publisher : University of Chicago Press
ISBN 13 : 0226042898
Total Pages : 398 pages
Book Rating : 4.2/5 (26 download)

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Book Synopsis The Analysis of Firms and Employees by : Stefan Bender

Download or read book The Analysis of Firms and Employees written by Stefan Bender and published by University of Chicago Press. This book was released on 2009-05-15 with total page 398 pages. Available in PDF, EPUB and Kindle. Book excerpt: The long-term impact of globalization, outsourcing, and technological change on workers is increasingly being studied by economists. At the nexus of labor economics, industry studies, and industrial organization, The Analysis of Firms and Employees presents new findings about these impacts by examining the interaction between the internal workings of businesses and outside influences from the market using data from countries around the globe. The result is enhanced insight into the dynamic interrelationship between firms and workers. A distinguished team of researchers here examines the relationships between human resource practices and productivity, changing ownership and production methods, and expanding trade patterns and firm competitiveness. With analyses of large-scale, nationwide datasets as well as focused, intensive observation of a few firms, The Analysis of Firms and Employees will challenge economists, policymakers, and scholars alike to rethink their assumptions about the workplace.

Corporate Governance Lessons from Transition Economy Reforms

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Publisher : Princeton University Press
ISBN 13 : 0691229295
Total Pages : 434 pages
Book Rating : 4.6/5 (912 download)

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Book Synopsis Corporate Governance Lessons from Transition Economy Reforms by : Merritt B. Fox

Download or read book Corporate Governance Lessons from Transition Economy Reforms written by Merritt B. Fox and published by Princeton University Press. This book was released on 2021-04-13 with total page 434 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate Governance Lessons from Transition Economy Reforms explores a timely topic at the intersection of economics, law, and policy reform. To date, most sophisticated theoretical work on corporate governance has focused on advanced market economies. In post-socialist countries, corporate finance and transition economics scholars have often done little more than convey the received theory to transition policymakers. This volume focuses, for the first time, on the reverse concern: what, if anything, do the reform experiences of transition countries teach about corporate governance theory more generally? To investigate this question, Merritt Fox and Michael Heller have assembled a stellar group of corporate governance theorists. The answers are startling. The principal essays approach the problem from three complementary perspectives that form the organizing themes of the book. The first part refines core corporate theory terms. The second presents important empirical work that explores the channels through which "good corporate governance" may link to the real economy. The final part links corporate governance theory to practical reforms. After fifteen years of experience, practice can now inform theory. Together, these essays present a comprehensive new view on a provocative theme. Written in an accessible style, they will be of interest to a broad range of scholars, commentators, and policymakers.

Time to Rethink Privatization in Transition Economies?

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Publisher : World Bank Publications
ISBN 13 : 9780821345030
Total Pages : 44 pages
Book Rating : 4.3/5 (45 download)

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Book Synopsis Time to Rethink Privatization in Transition Economies? by : John R. Nellis

Download or read book Time to Rethink Privatization in Transition Economies? written by John R. Nellis and published by World Bank Publications. This book was released on 1999-01-01 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: IFC Discussion Paper No. 38.QUOTEIt is now universally acknowledged that ownership matters; that private ownership in and of itself is a major determinant of good performance in firms... Decent economic policy and well-functioning legal and administrative institutions... matter greatly as well.QUOTEThis paper looks at what happens when the shift to private ownership gets far out in front of the effort to build the institutional underpinnings of a capitalist economy. The emphasis is on what went wrong and why and what, if anything, can be done to be correct it. Proposals include renationalization and/or postponement of further privatization, both to be accompanied by measures to strengthen the managerial capacities of the state. Neither approach seems likely to produce short-term improvements. The regrettable fact is that governments that botch privatization are equally likely to botch the management of state-owned firms. In a number of Central European transition countries, privatization is living up to expectations; and there is no need for such measures. For institutionally-weak countries, the less dramatic but reasonable short-term course of action is to push ahead more slowly with case- by-case and tender privatization in cooperation with the international assistance community in hopes of producing some success stories that will lead by example.

Transition and Beyond

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Publisher : Springer
ISBN 13 : 0230590322
Total Pages : 321 pages
Book Rating : 4.2/5 (35 download)

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Book Synopsis Transition and Beyond by : S. Estrin

Download or read book Transition and Beyond written by S. Estrin and published by Springer. This book was released on 2007-08-10 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book covers a wide variety of aspects of transition in Central and Southeast Europe and the CIS, including the socialist legacy, privatization and growth, skills, and banking reforms. It also covers the evolution of the global economy beyond transition, looking at complexity, risk management, the optimal transition path, and globalization.

A Decade of Transition

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Publisher : International Monetary Fund
ISBN 13 : 9781589060135
Total Pages : 292 pages
Book Rating : 4.0/5 (61 download)

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Book Synopsis A Decade of Transition by : Mr.Oleh Havrylyshyn

Download or read book A Decade of Transition written by Mr.Oleh Havrylyshyn and published by International Monetary Fund. This book was released on 2001-04-27 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume reviews the experience of 25 non-Asian transition economies 10 years into their transformation to market economies. The volume is based on an IMF conference held in February 1999 in Washington, D.C., to take stock of the achievements and the challenges of transition in the context of three questions: How far has transition progressed ineach country? What factors explain the differences in the progress made? And what remains to be done?

Privatization in Competitive Sectors

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Publisher : World Bank Publications
ISBN 13 :
Total Pages : 60 pages
Book Rating : 4./5 ( download)

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Book Synopsis Privatization in Competitive Sectors by : Sunita Kikeri

Download or read book Privatization in Competitive Sectors written by Sunita Kikeri and published by World Bank Publications. This book was released on 2002 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Vicious Circles of Control

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Publisher : World Bank Publications
ISBN 13 :
Total Pages : 28 pages
Book Rating : 4./5 ( download)

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Book Synopsis The Vicious Circles of Control by : Raj M. Desai

Download or read book The Vicious Circles of Control written by Raj M. Desai and published by World Bank Publications. This book was released on 2000 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: "In Russia and other transition economies that have implemented voucher privatization programs, how can one account for the puzzling behavior of insider-managers who, in stripping assets from the very firms they own, appear to be stealing from one pocket to fill the other?"--Cover.

Structural Adjustment in the Transition

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Publisher : World Bank Publications
ISBN 13 : 9780821350652
Total Pages : 196 pages
Book Rating : 4.3/5 (56 download)

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Book Synopsis Structural Adjustment in the Transition by : Paul Siegelbaum

Download or read book Structural Adjustment in the Transition written by Paul Siegelbaum and published by World Bank Publications. This book was released on 2002-01-01 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt: Annotation The study reviews the transition efforts of four countries - Albania, Azerbaijan, Kyrgyz Republic, and Moldova, to develop recommendations, which may benefit countries in future transition efforts. These countries have been unable to overcome obstacles to achieve any sustainable success in terms of growth or poverty reduction.

The Oxford Handbook of International Business

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Publisher : Oxford University Press, USA
ISBN 13 : 9780199258413
Total Pages : 902 pages
Book Rating : 4.2/5 (584 download)

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Book Synopsis The Oxford Handbook of International Business by : Alan M. Rugman

Download or read book The Oxford Handbook of International Business written by Alan M. Rugman and published by Oxford University Press, USA. This book was released on 2003 with total page 902 pages. Available in PDF, EPUB and Kindle. Book excerpt: This handbook synthesises some literature of the last 40 years in 28 chapters. The coverage is split into the following areas : the history and theory of the multinational enterprise; the political and policy environment of international business.

The Economics of Transition

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Publisher : Bloomsbury Publishing
ISBN 13 : 1349273139
Total Pages : 345 pages
Book Rating : 4.3/5 (492 download)

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Book Synopsis The Economics of Transition by : Marie Lavigne

Download or read book The Economics of Transition written by Marie Lavigne and published by Bloomsbury Publishing. This book was released on 1999-02-15 with total page 345 pages. Available in PDF, EPUB and Kindle. Book excerpt: Substantially revised and updated the second edition of this highly acclaimed text is both a vital guide and a valuable critical analysis. The book provides a contemporary comparative approach to the process of transformation of the economies of Eastern Europe and Russia. Supplying a large amount of factual and statistical information it also includes consideration of recent progress in the areas of macro-economic-stabilisation, micro-economic restructuring and integration into the world economy.

Annual World Bank Conference on Development Economics Regional 2007

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Publisher : World Bank Publications
ISBN 13 : 0821368443
Total Pages : 386 pages
Book Rating : 4.8/5 (213 download)

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Book Synopsis Annual World Bank Conference on Development Economics Regional 2007 by : François Bourguignon

Download or read book Annual World Bank Conference on Development Economics Regional 2007 written by François Bourguignon and published by World Bank Publications. This book was released on 2007-01-01 with total page 386 pages. Available in PDF, EPUB and Kindle. Book excerpt: Global Development Finance (GDF), is the World Bank's annual review of recent trends in and prospects for financial flows to developing countries. It is an indispensable resource for governments, economists, investors, financial consultants, academics, bankers, and the entire development community. Vol I: Analysis and Outlook reviews recent trends in financial flows to developing countries. Also available as a two volume set, Vol II. Summary and Country Tables* includes comprehensive data for 138 countries, as well as summary data for regions and income groups.

Advances in the Economic Analysis of Participatory and Labor-Managed Firms

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Publisher : Emerald Group Publishing
ISBN 13 : 1781902216
Total Pages : 367 pages
Book Rating : 4.7/5 (819 download)

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Book Synopsis Advances in the Economic Analysis of Participatory and Labor-Managed Firms by : Alex Bryson

Download or read book Advances in the Economic Analysis of Participatory and Labor-Managed Firms written by Alex Bryson and published by Emerald Group Publishing. This book was released on 2012-09-25 with total page 367 pages. Available in PDF, EPUB and Kindle. Book excerpt: With the financial crisis and Great Recession, some economists have begun to question the orthodox approach to production and capital/labor relations over the years. This orthodoxy thrown into question due to concerns of poor corporate decision-making, corporate capture of regulators, perceived rewards for failure, and uneven productivity growth.

Building Market Institutions in South Eastern Europe

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Publisher : World Bank Publications
ISBN 13 : 9780821357767
Total Pages : 414 pages
Book Rating : 4.3/5 (577 download)

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Book Synopsis Building Market Institutions in South Eastern Europe by : Harry G. Broadman

Download or read book Building Market Institutions in South Eastern Europe written by Harry G. Broadman and published by World Bank Publications. This book was released on 2004 with total page 414 pages. Available in PDF, EPUB and Kindle. Book excerpt: