Naslov
Restructuring of firms in transition : ownership, institutions and openness to trade

Autori
Domadenik, Polona ; Prašnikar, Janez ; Svejnar, Jan

Izvornik
Journal of international business studies (0047-2506) 39 (2008), 4; 725-746

Vrsta, podvrsta i kategorija rada
Radovi u časopisima, članak, znanstveni

Ključne riječi
transition; R&D investment; firms in transition; employee ownership and control; institutions; openness

Sažetak
We develop a theoretical framework for defensive and strategic restructuring, and provide estimates of restructuring in privatized firms in an advanced transition economy: Slovenia. Our rich data point to both types of restructuring, as well credit rationing and bargaining with respect to investment. Privatized firms display profit-maximizing behavior, and a firm's export orientation and institutional features, such as insider vs outsider privatization, employee ownership, and employee control, do not affect the firm's employment and investment behavior. The results suggest that a major exposure to world competition induces similar economic behavior in firms with different structural and institutional characteristics.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA