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Three Measures of Corporate Restructuring in a Transition Economy: The Case of Newly Privatised Romanian Companies

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  • Calin Valsan

Abstract

This article analyses the restructuring of newly privatised Romanian firms by focusing on three microeconomic variables. Changes in the number of personnel, the volume of fixed assets and the level of research and development are analysed in connection with measures of ownership structure and concentration. Overall, the evidence presented suggests that institutional (possibly foreign) outside stakeholders are more likely to foster restructuring and increase the likelihood of survival of newly privatised firms in Eastern Europe.

Suggested Citation

  • Calin Valsan, 2001. "Three Measures of Corporate Restructuring in a Transition Economy: The Case of Newly Privatised Romanian Companies," Post-Communist Economies, Taylor & Francis Journals, vol. 13(1), pages 121-128.
    • Handle: RePEc:taf:pocoec:v:13:y:2001:i:1:p:121-128
    DOI: 10.1080/14631370020031559
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    References listed on IDEAS

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    1. Smith, Stephen C. & Cin, Beom-Cheol & Vodopivec, Milan, 1997. "Privatization Incidence, Ownership Forms, and Firm Performance: Evidence from Slovenia," Journal of Comparative Economics, Elsevier, vol. 25(2), pages 158-179, October.
    2. Boycko, Maxim & Shleifer, Andrei & Vishny, Robert W., 1994. "Voucher privatization," Journal of Financial Economics, Elsevier, vol. 35(2), pages 249-266, April.
      • Boycko, Maxim & Shleifer, Andrei & Vishny, Robert W., 1993. "Voucher Privatization," Working Papers 85, The University of Chicago Booth School of Business, George J. Stigler Center for the Study of the Economy and the State.
      • Boycko, Maxim & Shleifer, Andrei & Vishny, Robert W, 1994. "Voucher Privatization," Scholarly Articles 30704159, Harvard University Department of Economics.
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    Cited by:

    1. Daniel A. Glaser-Segura & Laurentiu Dan Anghel & Jack E. Tucci, 2006. "Supply Chain Management And The Romanian Transition," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 8(19), pages 18-26, February.

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