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-scale privatization in Russia. The analysis shows that although employee buyouts have helped to reduce unemployment and prevent major …-term growth of privatized enterprises. Unlike in many other transition countries, employees in Russia were obedient to the … remains a popular idea in Russia, but subsequent attempts of the Russian government to isolate enterprises from outside …
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The paper is intended to explain low sensitivity of employment decisions observed in transition economies where insider ownership prevails and capital markets are not highly developed. We introduce a stability concept for employment levels of a labor-managed firm and prove that there exists a...
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I derive a model to analyze the efficiency outcomes of bids for enterprise control when workers own a pivotal fraction of the shares. Workers know there will be layoffs under the new owner, and they face search costs to being unemployed. Without worker ownership, some inefficient takeovers...
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We use a representative sample of German establishments to show that those with foreign ownership are more likely to use performance appraisal, profit sharing and employee share ownership than are those with domestic ownership. Moreover, we show that works councils are associated with an...
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