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The effect of enterprise break-ups on performance: the case of the former Yugoslav Republic of Macedonia
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SYSNO ASEP 0380778 Document Type J - Journal Article R&D Document Type Journal Article Subsidiary J Ostatní články Title The effect of enterprise break-ups on performance: the case of the former Yugoslav Republic of Macedonia Author(s) Domadenik, P. (SI)
Lízal, Lubomír (NHU-N) RID
Pahor, M. (SI)Source Title Revue économique - ISSN 0035-2764
Roč. 63, č. 5 (2012), s. 849-866Number of pages 18 s. Language eng - English Country FR - France Keywords enterprise break-ups ; Macedonia ; performance Subject RIV AH - Economics Institutional support NHU-N - RVO:67985998 Annotation The transition literature on the comparison of restructuring prior to privatization has been theoretically well researched, yet the empirical evidence is limited. Virtually no study has dealt with the Macedonian economy at all. Using firm level data, we estimate the effects of the break-ups of enterprises on the subsequent performance of the “master enterprises” and spun-off divisions. We estimate the performance effects by comparing the performance of enterprises that remained intact with the performance of enterprises that experienced spin-offs and the newly established subsidiaries. Our results suggest that the break-ups were guided not by efficiency goals, but rather by managerial self-interest. Workplace Economics Institute Contact Tomáš Pavela, pavela@cerge-ei.cz, Tel.: 224 005 122 Year of Publishing 2013
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