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Enterprise Restructuring and Transition
Mr.Juan Zalduendo
其他書名
Evidence From the Former Yugoslav Republic of Macedonia
出版International Monetary Fund, 2003-06-01
主題Business & Economics / Economics / MacroeconomicsBusiness & Economics / Exports & ImportsBusiness & Economics / Labor / General
ISBN14518558349781451855838
URLhttp://books.google.com.hk/books?id=jFsYEAAAQBAJ&hl=&source=gbs_api
EBookSAMPLE
註釋This paper reviews developments in corporate performance in the FYR Macedonia during the 1990s. The paper finds substantial differences in performance between surviving old firms and nimbler new ones. The paper reviews factors that facilitated restructuring among surviving firms, and concludes that private sector ownership, hard budget constraints, and market-based economic institutions have served to strengthen corporate performance. The paper also shows that the predominance of insider privatization and the resulting low ownership concentration is one of the reasons for the poor performance of surviving firms.