The Role of Employee Ownership in Privatization of State Enterprises in Eastern and Central Europe
Author: Željko Bogetić
Publisher:
Published: 1991
Total Pages:
ISBN-13:
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Author: Željko Bogetić
Publisher:
Published: 1991
Total Pages:
ISBN-13:
DOWNLOAD EBOOKAuthor: Zeljko Bogetic
Publisher:
Published: 2011
Total Pages: 0
ISBN-13:
DOWNLOAD EBOOKThe paper considers the various theoretical and practical arguments for and against the role of employee ownership in privatisation of state enterprises in Eastern and Central Europe. It argues that employee ownership should not be regarded as an end per se but one of the possible methods of transferring ownership from state to the private sector in the course of transition.
Author: Felix FitzRoy
Publisher:
Published: 1998
Total Pages: 60
ISBN-13:
DOWNLOAD EBOOKBased on empirical evidence, examines experiences of employee ownership within the context of privatization legislation and its diffusion and implementation problems in 14 transitional economies. Presents some of the weaknesses of privatization and identifies possible improvements such as the use of employee ownership in combination with other privatization methods.
Author: Milica Uvalić
Publisher: Edward Elgar Publishing
Published: 1997
Total Pages: 348
ISBN-13:
DOWNLOAD EBOOKA wide-ranging survey which considers employee ownership within privatization legislation and its diffusion and implementation problems in 14 transitional economies. Ten articles address issues such as enterprise restructuring, employment, wages, productivity, and investment policies. The authors conclude that the employee ownership method has proven to be one of the quickest and has brought with it many positive changes. They also identify possible improvements such as the use of employee ownership in combination with other methods. Annotation copyrighted by Book News, Inc., Portland, OR
Author: National Center for Employee Ownership (U.S.)
Publisher:
Published: 1992
Total Pages: 48
ISBN-13:
DOWNLOAD EBOOKAuthor: Roman Frydman
Publisher: Central European University Press
Published: 1994-01-01
Total Pages: 239
ISBN-13: 9633864917
DOWNLOAD EBOOKIn Eastern Europe privatization is now a mass phenomenon. The authors propose a model of it by means of an illustration from the example of Poland, which envisages the free provision of shares in formerly public undertakings to employees and consumers, and the provision of corporate finance from foreign intermediaries. One danger that emerges is that of bureaucratization. On the broader canvas, mass privatization implies the reform of the whole system, the creation of a suitable economic infrastructure for a market economy and the institutions of corporate governance. The authors point out the need for a delicate balance between evolution - which may be too slow - and design - which brings the risk of more government involvement than it is able to manage. A chapter originating as a European Bank working paper explores the banking implications of setting up a totally new financial sector with interlocking classes of assets. The economic effects merge into politics as the role of the state is investigated. Teachers and graduate students of public/private sector economies, East European affairs; advisers to bankers or commercial companies with Eastern European interests.
Author:
Publisher: World Bank Publications
Published: 1997
Total Pages: 44
ISBN-13:
DOWNLOAD EBOOKThe assumption behind privatisation in eastern Europe and elsewhere is that private ownership improves corporate performance. We focus on comparing the performance of state firms with either private or privatised firms operating under reasonably similar conditions in three countries of eastern Europe. We supplement this comparison by an examination of the relative performance of privatised and state firms in the period before the former were privatised. Our empirical results confirm the hypothesis that the effect of ownership change is particularly pronounced on the revenue side of corporate performance. In general, we find that firms with outsider owners significantly outperform the firms with insider owners on most performance measures, and that the employees are particularly ineffective owners (indeed less effective than the state). Subscribe to publications email alerts.
Author: J.M. Van Brabant
Publisher: Springer Science & Business Media
Published: 2012-12-06
Total Pages: 343
ISBN-13: 9401128340
DOWNLOAD EBOOKThis volume is meant to be a modest contribution to the ongoing debate about the transitions away from the administrative planning environment typical of the former communist regimes. The central subject matter is a fairly special one, namely the privatization of these economies together with the restoration and effective monitoring of property rights. These are paramount tasks of the ongoing transformations once progress toward pOlitical democracy is secured. Though I would not allot divestment of existing state-owned assets the kind of pivotal importance that some observers reserve for it, changing rules on the utilization of these assets is evidently at the core of what the transition toward market-based economic systems should be all about. Rather than examining the entire range of issues that surround the controvery on privatization, this volume is primarily concerned with the economics of taking the state out of the decision making about existing assets. Among the several aspects of this discussion three stand out. One is the establishment of clear property rights. This is fundamental to minimize trans action costs in an environment where decisions will increasingly be taken by independent economic agents acting on their own account. Second, I look only incidentally at the various angles of creating capital markets, particularly for existing assets, in these economies.
Author: Manuel Hinds
Publisher: World Bank Publications
Published: 1991
Total Pages: 27
ISBN-13:
DOWNLOAD EBOOKInsights into the major task of privatization facing Eastern European countries: about the key decisions to be made and about such important issues as whether to sell state enterprises or give them away (and to whom and in what sequence).
Author: Mr.Eduardo Borensztein
Publisher: International Monetary Fund
Published: 1991-04-01
Total Pages: 28
ISBN-13: 1451977905
DOWNLOAD EBOOKThis paper discusses several proposals for a wholesale privatization of public enterprises in Eastern Europe. These proposals include the distribution of ”vouchers” to private citizens as well as the use of mutual funds, privatization companies and other forms of financial intermediaries. The paper analyzes the implications for economic efficiency of the different forms of ownership and control that would emerge from the proposals as well as their main macroeconomic consequences.