restructuring by firms and their subsequent performance as measured by growth in sales and in sales per employee over a three … impact on purely defensive (cost-reducing) restructuring activity. New firms have grown relatively fast, but among old firms … impact on restructuring and performance. …

This paper interprets the existing evidence on enterprise restructuring in Poland, Hungary and the Czech Republic …. Despite differences in restructuring policies, the pattern of observed restructuring appears similar in the three countries … activities. Strategic restructuring, involving thoughtful business projects and modernization investments, is much more limited …

This paper examines aspects of speed and sequencing of restructuring and privatization in economies in transition. It … constraints on restructuring, a very fast and non-differentiated approach to privatization may lead to renationalization and … general delays in restructuring. A more gradual policy of privatization may allow for the screening of good from bad firms …

This Paper examines the restructuring of state assets in markets deregulated by privatizations and investment … acquiring firm: A restructuring firm only takes into account how much its own profit will increase. The government internalizes … that restructuring increases the sales price not only due to the increase in the acquirer's profit, but also due to a …

progress in two areas: privatization of small state-owned enterprises (SOEs) at the county level and mass lay-offs of excess … politically sensible ways. We then argue that privatization, Chinese style, rests on an adequate economic and political foundation … induced Chinese style privatization. …

performance after privatization in the Czech Republic. We find weak evidence for the presence of managerial incentives: only in … 1997, three to four years after privatization, does poor performance significantly increase the probability of managerial …

restructuring even in the absence of a clear prospect of privatization. It situates enterprise restructuring at the heart of the …This paper begins from the twin observation that on the one hand, privatization which leaves control in the hands of … the insiders has produced little restructuring while on the other, state-owned enterprises have engaged in some …

some countries, restructuring is being undertaken by the state before privatization; in some, restructuring is delegated to … corporate restructuring. It emphasizes differences in the sequence in which reforms are undertaken in different countries. In … preceding restructuring. The article suggests that the recent theoretical literature on corporate ownership and vertical …

We survey the empirical literature analysing the process of enterprise restructuring in transition economies. The … varies across regions. We study the effects of privatization, the importance of different types of owners, the effects of … foreign and domestic competition, the consequences of soft budgets, and the role of managerial incentives and managerial human …

foreigners. We use a bank-level panel data set spanning all British and foreign banks providing loans within the United Kingdom …-term interest rates, though our data set here is much smaller. We examine the loan mix for both British and foreign banks, both … of financial protectionism. After nationalisations, foreign banks reduced the fraction of loans going to the UK by about …