haku: @author Roland, G. / yhteensä: 10
viite: 3 / 10
| Tekijä: | Roland, G. Sekkat, K. |
| Otsikko: | Managerial career concerns, privatization and restructuring in transition economies |
| Lehti: | European Economic Review
2000 : DEC, VOL. 44:10, p. 1857-1872 |
| Asiasana: | CAREERS PRIVATIZATION ECONOMIC CONDITIONS |
| Kieli: | eng |
| Tiivistelmä: | The authors set up a dynamic adverse selection model to explain how career concerns may induce managers in state-owned enterprises (SOEs) to restructure their firms. It is shown how government monopsony power over managers led to the ratchet effect under a socialist economy, even under reforms coming short of privatization. The introduction of a managerial labour market, through privatization, introduces competition for managers and eliminates the ratchet effect, thereby inducing managers to restructure. |
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