Apostolov, Mico (2010): Governance and Enterprise Restructuring in Southeast Europe. Published in: London School of Economics and Political Science (LSE), London, UK (16. June 2010)
Download (417kB) | Preview
The research in this paper is to be focused on examining governance and enterprise restructuring in Southeast Europe (Western Balkans) transition economies. International organizations classify the following countries in Southeast Europe (Western Balkans): Albania, Bosnia and Herzegovina, Croatia, Macedonia, Montenegro and Serbia.
The European Bank for Reconstruction and Development (EBRD) has governance and enterprise restructuring as basic indicator of economic transition and defines it as effective corporate governance and corporate control exercised through domestic financial institutions and markets, fostering market-driven restructuring. The corporate governance is most often defined in terms of the roles, responsibilities, and interactions of top management and the board of directors.
Using data of Southeast European economies, will be examined the interrelationships between governance and enterprise restructuring and set of policies that influence the governance patterns.
|Item Type:||MPRA Paper|
|Original Title:||Governance and Enterprise Restructuring in Southeast Europe|
|Keywords:||governance, enterprise restructuring, corporate governance, transition, Southeast Europe|
|Subjects:||O - Economic Development, Technological Change, and Growth > O1 - Economic Development > O11 - Macroeconomic Analyses of Economic Development
L - Industrial Organization > L3 - Nonprofit Organizations and Public Enterprise > L38 - Public Policy
G - Financial Economics > G3 - Corporate Finance and Governance > G38 - Government Policy and Regulation
G - Financial Economics > G3 - Corporate Finance and Governance > G32 - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
P - Economic Systems > P3 - Socialist Institutions and Their Transitions > P31 - Socialist Enterprises and Their Transitions
G - Financial Economics > G3 - Corporate Finance and Governance > G30 - General
|Depositing User:||Mico Apostolov|
|Date Deposited:||27. Dec 2010 11:05|
|Last Modified:||14. Feb 2013 23:44|
Balcerowicz, L. 1993. Common Fallacies in the Debate on the Economic Transition in Central and Eastern Europe. London: European Bank for Reconstruction and Development.
Bennett, J., Estrin, S., Maw, J., Urga, G. . 2004a. Privatization methods and economic growth in transition economies. Fondazione Eni Enrico Mattei Nota di Lavoro 105.
Bennett, J., Estrin, S., Maw, J., Urga, G. . 2004b. Privatization methods and economic growth in transition economies. CEPR 4291.
Boycko, M., Shleifer, A., & Vishny, R. W. 1996. A Theory of Privatisation. The Economic Journal, 106(435): 309-319.
De Macedo, J. B., & Martins, J. O. 2008. Growth, reform indicators and policy complementarities1. Economics of Transition, 16(2): 141-164.
Denis, D., & McConnell, J. 2005. International corporate governance. In K. Keasey, Thompson, S. , & M. Wright (Eds.), Corporate Governance: Accountability, Enterprise and International Comparison, Vol. 251–84. London: Wiley.
Djankov, S., & Murrell, P. 2002. Enterprise Restructuring in Transition: A Quantitative Survey. Journal of Economic Literature, 40(3): 739-792.
EBRD. 1994-2009. Transition report: European Bank for Reconstruction and Development, London.
Filatotchev, I., & Boyd, B. K. 2009. Taking Stock of Corporate Governance Research While Looking to the Future. Corporate Governance: An International Review, 17(3): 257-265.
Filatotchev, I., & Mickiewicz, T. 2003. Ownership Concentration, ‘Private Benefits of Control’ and Debt Financing. Economics Working Papers. Centre for the Study of Economic and Social Change in Europe, SSEES, UCL, London, UK.
Filatotchev, I., Wright, M., Uhlenbruck, K., Tihanyi, L., & Hoskisson, R. E. 2003. Governance, organizational capabilities, and restructuring in transition economies. Journal of World Business, 38(4): 331-347.
Freedman, D. A. 2005. Statistical Models: Theory and Practice: Cambridge University Press Gouret, F. 2007. Privatization and output behavior during the transition: Methods matter! Journal of Comparative Economics, 35(1): 3-34.
IFC. 2008. Corporate Governance Manual for Macedonian Companies: International Finance Corporation.
Kołodko, G. W. 2000. From Shock to Therapy: The Political Economy of Postsocialist Transformation. Oxford: Oxford University Press.
Kornai, J. 1990. The Road to a Free Economy. Shifting from a Socialist System: The Example of Hungary. New York: Norton & Co.
Lipton, D., Sachs, J., & Summers, L. H. 1990. Privatization in Eastern Europe: The Case of Poland. Brookings Papers on Economic Activity, 1990(2): 293-341.
McGee, R. W., & Preobragenskaya, G. G. 2004. Corporate Governance in Transition Economies: The Theory and Practice of Corporate Governance in Eastern Europe. Global Conference on Business Economics, Association for Business and Economics Research, Amsterdam.
Porta, R. L., Lopez-De-Silanes, F., & Shleifer, A. 1999. Corporate Ownership Around the World. The Journal of Finance, 54(2): 471-517.
Sachs, J. D. 1996. The Transition at Mid Decade. The American Economic Review, 86(2): 128-133.
Shapiro, C., & Willig, R. 1990. Economic Rationales for the Scope of Privatization. In E. Suleiman, & J. Waterbury (Eds.), The Political Economy of Public Sector Reform and Privatization. Boulder, Colorado: Westview Press.
Shleifer, A., & Vishny, R. W. 1994. Politicians and Firms. The Quarterly Journal of Economics, 109(4): 995-1025.
Stiglitz, J. 1998. More Instruments and Broader Goals: Moving Toward the Post- Washington Consensus. Helsinki: World Institute for Development Economics Research - United Nations University.
Vickers, J., & Yarrow, G. 1990. Privatization: An Economic Analysis Cambridge, Massachusetts: MIT Press.
Zinnes, C., Eilat, Y., & Sachs, J. 2001. The Gains from Privatization in Transition Economies: Is "Change of Ownership" Enough? IMF Staff Papers, 48(ArticleType: research-article / Issue Title: Transition Economies: How Much Progress? / Full publication date: 2001 / Copyright © 2001 International Monetary Fund): 146-170.