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| Tekijä: | Albrecht, B. Thum, M. |
| Otsikko: | Privatization, labor participation, and the threat of bankruptcy: the case of Poland |
| Lehti: | Journal of Institutional and Theoretical Economics
1994 : DEC, VOL. 150:4, p. 710-725 |
| Asiasana: | POLAND PRIVATIZATION BANKRUPTCY |
| Kieli: | eng |
| Tiivistelmä: | Economies in transition must get through a potentially destabilizing phase that has two fundamental characteristics. Firms do not yet know their own position in a competitive environment and until privatization these firms typically are controlled de facto by a labor management. The workers control over wages allows a decision between a cautious strategy of low wages and a bankruptcy-including strategy of excessive payoffs to be made. |
SCIMA