Enterprises in six newly independent states exhibit large differences in ownership structure, differences that seem to be determined by the method of privatization pursued. Enterprises in countries where the privatization programs favored incumbent managers ended up with heavy ownership by...

This study investigates the relation between ownership structure and enterprise restructuring in six Newly Independent States. We document the changing pattern of ownership in 960 privatized manufacturing companies in the 1995-97 period. There are large differences in the ownership structure...

Poor results from the isolation program for financially distressed firms in Romania suggest that enterprise restructuring under government auspices does not work - that transition economies should privatize rapidly, without attempting first to restructure enterprises. How should countries in...

In this paper, we analyze financial and operating data (1992 to 1995) for more than 6,300 industrial firms in seven countries of the region: Bulgaria, Czech Republic, Hungary, Poland, Romania, Slovak Republic and Slovenia. These countries have adopted different policies to encourage enterprise...