Channels of Restructuring in Privatized Czech Companies

Jana Fidrmucova
Additional contact information
Jana Fidrmucova: Tilburg University

No 1358, Econometric Society World Congress 2000 Contributed Papers from Econometric Society

Abstract: Wide variety of restructuring activities in the former state-owned enterprises has been documented in the literature. The present paper provides an analysis of channels of restructuring in a panel of 483 Czech companies privatized by the voucher method. The fixed-effects model with observations between 1993 and 1997 is used for this purpose. The results indicate that asset sale, labor shedding, employee incentives, sales growth, and inventory management serve as channels through which performance of the privatized companies measured by sale efficiency is improved. On the other hand, investment is not found to be a significant determinant of enterprise performance. Furthermore, the analysis suggests that the companies still face a soft budget constraint.

Date: 2000-08-01
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://fmwww.bc.edu/RePEc/es2000/1358.pdf main text (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ecm:wc2000:1358

Access Statistics for this paper

More papers in Econometric Society World Congress 2000 Contributed Papers from Econometric Society Contact information at EDIRC.
Bibliographic data for series maintained by Christopher F. Baum ().