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Working in Public and Private Firms
Corneo, Giacomo; Rob, Rafael - C.E.P.R. Discussion Papers - 2001
We develop a theoretical framework for comparing the style of work in public and private enterprises. We incorporate ‘socializing’, as an activity that yields utility for workers and affects a firm’s output, into a simple multitask model of work organization. In contrast with previous...
Persistent link: https://www.econbiz.de/10005791698
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Hardened Budgets and Enterprise Restructuring: Theory and an Application to Romania
Coricelli, Fabrizio; Djankov, Simeon - C.E.P.R. Discussion Papers - 2001
We identify the presence of soft budgets and analyse their impact on enterprise restructuring in Romania over the …
Persistent link: https://www.econbiz.de/10005123818
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Regional Unemployment and Human Capital in Transition Economies
Jurajda, Stepan; Terrell, Katherine - C.E.P.R. Discussion Papers - 2007
Differences in regional unemployment in post-communist economies are large and persistent. We show that inherited variation in human-capital endowment across the regions of four such economies explains the bulk of regional unemployment variation there and we explore potential explanations for...
Persistent link: https://www.econbiz.de/10005136518
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Competition and Firm Performance in Transition Economies: Evidence from Firm Level Surveys in Slovenia, Hungary and Romania
Konings, Jozef - C.E.P.R. Discussion Papers - 1997
countries, Hungary, Romania and Slovenia. The data are based on interviews taken in more than 300 state-owned, privatized and … pressure has a positive impact on firm performance in Hungary and Slovenia, but not in Romania, while in Romenia short … Romania, the results are somewhat mixed; state-owned enterprises do worse than employee-owned (privatized) and newly …
Persistent link: https://www.econbiz.de/10005498145
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The Enterprise Isolation Programme in Romania
Djankov, Simeon - C.E.P.R. Discussion Papers - 1999
We provide comprehensive analysis of the isolation program for financially distressed firms in Romania. The results … the process of privatization or liquidation of large loss-making enterprises. Firms included in the program faced softer …
Persistent link: https://www.econbiz.de/10005666566
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Do the Biggest Aisles Serve a Brighter Future? Global Retail Chains and Their Implications for Romania
Javorcik, Beata; Li, Yue - C.E.P.R. Discussion Papers - 2008
-level data from Romania, this study examines how the presence of global retail chains affects firms in the supplying industries …
Persistent link: https://www.econbiz.de/10005791348
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Corporate Efficiency in Europe
Hanousek, Jan; Kocenda, Evzen; Shamshur, Anastasiya - C.E.P.R. Discussion Papers - 2015
Using a stochastic frontier model and a comprehensive dataset, we study factors that affect corporate efficiency in Europe. We find that (i) larger firms are less efficient than smaller firms, (ii) greater leverage contributes to corporate efficiency, and (iii) high competition is less...
Persistent link: https://www.econbiz.de/10011213309
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Voucher Privatization, Corporate Control and the Cost of Capital: An Analysis of the Czech Privatization Programme
Marcincin, Anton; van Wijnbergen, Sweder - C.E.P.R. Discussion Papers - 1995
Voucher privatization programmes have been criticized for leading to excessively dispersed ownership and hence failure … privatization programme and subsequent stock market developments. Contrary to prior fears, dominant investors did emerge in most …
Persistent link: https://www.econbiz.de/10005123768
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Equity Block Transfers in Transition Economies: Evidence from Poland
Trojanowski, Grzegorz - C.E.P.R. Discussion Papers - 2002
This Paper investigates valuation effects of share block transfers and employs agency theory to explain the determinants of block premia. A sample of transactions from Poland is used to measure benefits and costs of ownership concentration. Block premia are found to be substantially lower than...
Persistent link: https://www.econbiz.de/10005124379
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Corporate Governance Externalities
Acharya, Viral V; Volpin, Paolo - C.E.P.R. Discussion Papers - 2008
We argue that the choice of corporate governance by a firm affects and is affected by the choice of governance by other firms. Firms with weaker governance give higher payoffs to their management to incentivize them. This forces firms with good governance to also pay their management more than...
Persistent link: https://www.econbiz.de/10005136630