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Transitional adjustment of large companies in Slovenia and economic policy

Maks Tajnikar

出版	Carfax, 2001
URL	http://books.google.com.hk/books?id=_LKOPAAACAAJ&hl=&source=gbs_api

註釋

This article analyses transition crisis in large companies using the case of Slovenia. According to the accounting data for 1991 and 1997 a great part of the transition crisis was centred in large companies. In Slovenia, in general crisis conditions in large companies arose because of a very high or very low capital/labour ratio and the inability of management to cope with redundant capital or labour. Only recently have unfavourable market and financial positions become more important, but they are still not the most important factor. Companies which oriented themselves to oreign markets and invested, succeeded in making profits in spite of increased debts and an unfavourable debt/equity ratio. Large companies in state ownership have preserved soft budget constraints. Many companies shrank drastically: they have survived, buttheir efficiency is low.