Enterprise Restructuring in Transition: A Quantitative Survey

Theoretical Foundations

“…As another example, consider the continued prevalence of state ownership. In the 1990s, the prevalent view was that state ownership was transitory and inferior to private ownership (Megginson & Netter, 2001;Djankov & Murrell, 2002;Estrin, et al, 2009). Yet by the 2010s, acknowledgement grows that some state-owned enterprises (SOEs) have been very successful not only in their home countries, but also on the international stage (Bruton, Peng, Ahlstrom, Stan, & Xu, 2015;Meyer, Ding, Li, & Zhang, 2014).…”

Who Gets Privatised? An Empirical Analysis of Polish Manufacturing

“…In the context of transition, the emphasis is on the relationship between privatisation and performance, rather than the determinants of privatisation (see e.g. Djankov and Murrell, 2002 for a survey) 1 . At the same time it is recognised that the endogeneity of the timing and method of privatisation complicates any attempts to establish a casual relationship between privatisation and performance (Carlin and Landesmann, 1997).…”

The Choice of Funding Sources for Start-Ups in a Transitional Economy: The Ability to Predict in a National Context

“…Therefore it would not be correct to directly extrapolate the conclusions about the specific features of funding for early-stage entrepreneurs in developed market economies to countries with transitional economies, including Russia. The issues associated with providing support to entrepreneurship in transitional economies, and ways to deal with them remain at the center of many researchers' attention [Yang et al, 2012;Chavis et al, 2011;Beck et al, 2008;Aidis, 2005;Levine, 2005;Djankov et al, 2002]. However, no comparative studies of the effect of the national socioeconomic context on early-stage entrepreneurs' choice of specific funding sources have yet been conducted.…”

“…The situation changes as the companies grow and the number of their employees increases (Figure 1). To avoid bureaucratic and other institutional barriers, earlystage entrepreneurs do accept informal investments, though by doing so they risk facing problems like unreliability, the irregular provision of funds by friends and relatives, unprofessional assessments of their business ideas, and "significant non-monetary costs" [Djankov et al, 2002]. The correlation between early-stage entrepreneurs' choice of funding sources and the income level in the country is shown in Table 1.…”

“…• A favorable institutional environment for starting one's own business; Source: composed by the authors, based on the data in [Djankov et al, 2002].…”