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The Failure of Government-led Program of Corporate Reorganization in Romania
Djankov, Simeon; Ilayperuma, Kosali - William Davidson Institute, University of Michigan - 1997
We provide the first comprehensive cost-benefit analysis of government-led reorganization programs for financially distressed firms in transition economies. The study is based on empirical evidence on the programs in Albania, Arinenia, Bulgaria, FYR Macedonia, Romania, Kazakhstan, Kyrgyz...
Persistent link: https://www.econbiz.de/10005489895
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Revisiting Hungary's Bankruptcy Episode
Bonin, John P.; Schaffer, Mark E. - 1999
We take a retrospective look at Hungary's experiment with a particularly draconian bankruptcy law. For an eighteen …-month period in 1992-93, the Hungarian bankruptcy code contained an unusual automatic trigger that required the managers of firms … bankruptcy framework not connected to the automatic trigger provide the more important lessons. In particular, it is possible to …
Persistent link: https://www.econbiz.de/10009477469
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Enduring effects or business as usual? : entrepreneurship after bankruptcy
Wakkee, Ingrid; Moser, Christine - In: International journal of business environment : IJBE 8 (2016) 3, pp. 217-241
Persistent link: https://www.econbiz.de/10012144795
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Competition, Financial Discipline and Growth
Aghion, Philippe; Dewatripont, Mathias; Rey, Patrick - C.E.P.R. Discussion Papers - 1999
This paper develops a general equilibrium model of technological adoption in an economy populated by 'satisficing' entrepreneurs whose main objective is to minimise innovative effort while keeping the firm alive. In such an economy, product market competition is shown to have a stimulating...
Persistent link: https://www.econbiz.de/10005504632
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Job Growth in Early Transition: Comparing Two Paths
Jurajda, Stepan; Terrell, Katherine - 2002
Small start-up firms are the engine of job creation in early transition and yet little is known about the characteristics of this new sector. We seek to identify patterns of job growth in this sector in terms of niches left from central planning and ask about differences in job creation across...
Persistent link: https://www.econbiz.de/10009476680
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ORGANIZATIONAL CULTURE AND EFFECTIVENESS: CAN AMERICAN THEORY BE APPLIED IN RUSSIA?
Fey, Carl F.; Denison, Daniel R. - 2003
This paper examines the link between organizational culture and effectiveness for foreign-owned firms operating in Russia. Beginning with a model of organizational culture developed in the USA, the paper presents a multi-method analysis of culture and effectiveness in a transition economy. We...
Persistent link: https://www.econbiz.de/10009476684
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Foreign Acquisition of Banks.
Bogaard, Henricus - 2009
My dissertation contributes to a rich literature on foreign entry into banking with three papers that shed a new light on foreign acquisitions of banks in emerging markets. The papers focus in particular on the timing of foreign acquisition following periods of structural economic change – as...
Persistent link: https://www.econbiz.de/10009476821
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Financial Discipline in the Enterprise Sector in Transition Countries: How Does China Compare?
Shumei; Shumei - 1998
This paper makes some selective comparisons of the empirical evidence relating to financial discipline and soft budget constraints in the enterprise sector in China and the transition countries of Central and Eastern Europe and the former Soviet Union (CEEFSU). The paper finds that: (1) in both...
Persistent link: https://www.econbiz.de/10009476838
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Financial Deregulation and Economic Growth in the Czech Republic, Hungary and Poland
McGrath, Patricia - 2005
Advocates of financial regulation, Arestis and Demetriades, argue that financial liberalisation does not impact on financial market efficiency and the allocation of investment. Results in this study find that Czech, Hungarian and Polish firms are subject to scrutiny when applying for credit. The...
Persistent link: https://www.econbiz.de/10009476848
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Technology Transfer through FDI in Top-10 Transition Countries: How Important are Direct Effects, Horizontal and Vertical Spillovers?
Damijan, Joze P.; Knell, Mark; Majcen, Boris; Rojec, Matija - 2003
The paper exploits a large set of more than 8,000 firms for ten advanced transition countries in order to uncover the importance of different channels of technology transfer through FDI and its impact on productivity growth of local firms. In addition to direct effects, we also distinguish...
Persistent link: https://www.econbiz.de/10009476857