framework matters as well: managerial turnover improves performance only if the management is closely interconnected with the …

Banks play a central role in financing and monitoring firms in transition economies. This study examines how bank … competition affects the efficiency of credit allocation; monitoring of firms; and the firms' restructuring effort. In our model … though it lowers its expected profits. Furthermore, competition has a positive impact on the firms restructuring efforts …

Several studies stressed that contrary to initial expectations, state-owned firms at the beginning of transition … transition can be interpreted as a signal directed to the banking sector in order to obtain more favourable financing conditions … for the subsequent process of restructuring. The conclusions are strongly supported by Polish firm level empirical …

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 …

ordered probit model to explain energy law reform in the first decade of Russia's democratic transition. Our goal is to …

, bureaucratic, social and economic determinants on energy law reform in the first decade of Russia's democratic transition. Our …

ordered probit model to explain energy law reform in the first decade of Russia's democratic transition. Our goal is to …

pursuing industrial change within the framework of an urban economic environment. The process of transition has now permeated …

ordered probit model to explain energy law reform in the first decade of Russia's democratic transition. Our goal is to …