Privatization, Restructuring, Corporate Governance and the Behaviour of Firms in Transition Economies

Josef Brada

Chapter 5 in Change Management in Transition Economies, 2003, pp 55-70 from Palgrave Macmillan

Abstract: Abstract This chapter uses published case studies of firms in the Czech Republic, Hungary and Poland to investigate how firms reacted to the pressures of transition. Most firms made short-term adjustments to outputs and inputs, but fewer made strategic adjustments. Nevertheless these short-term responses influenced their ability to implement long-term strategies for survival and growth. In general, successful firms were those which strengthened their marketing function, reorganized their internal decision making and information systems, invested in human resources and created effective mechanisms of corporate governance. The shedding of workers and large investments in capital and technology were, rather surprisingly, less important features of successful restructuring.

Keywords: Foreign Direct Investment; Corporate Governance; Transition Economy; Foreign Owner; Managerial Autonomy (search for similar items in EconPapers)
Date: 2003
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-4039-3784-1_5

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DOI: 10.1057/9781403937841_5

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