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When do Stakes in Restructuring put Restructuring at Stake?

In: The Socio-Economic Transformation

Author

Listed:
  • Philipp J. H. Schröder

Abstract

Frequently the shareholders of privatized transition firms also hold stakes in the firm they own. This two-sided role of an agent may give rise to potential conflicts when the restructuring strategy of a firm has to be decided. This shareholder/stakeholder conflict is analyzed in a simple framework including the corporate control dimension of the problem. It is found that for feasible specifications of the conflict, restructuring in the economy will fall short of complete efficiency. However, for certain parameter values the shareholder/stakeholder issue turns out to be a non-problem.

Suggested Citation

  • Philipp J. H. Schröder, 2007. "When do Stakes in Restructuring put Restructuring at Stake?," Palgrave Macmillan Books, in: Zbigniew Nahorski & Jan W. Owsiński & Tomasz Szapiro (ed.), The Socio-Economic Transformation, chapter 0, pages 17-30, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-37903-9_2
    DOI: 10.1057/9780230379039_2
    as

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