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1

Corporate behaviour and chances of survival in a post-socialist transitional economy

100%
Janky B., Lengyel G.
Kozgazdasagi Szemle (Economic Review)
|
2004
|
vol. 51
|
issue 7/8
699-716
EN
The study uses panel data to examine the factor affected medium-term changes in the chances of survival among Hungarian manufacturing firms. The researchers revisited in 2000 firms surveyed in a 1993 sample. The figures show firms' survival chances vary essentially not only by industry, size of labour force and utilization of capacity, but according to managerial behaviour and corporate strategy. Those whose managers believed in 1993 that behaviour breaching accepted norms would succeed in the economy had a lower than average likelihood of surviving until the end of the decade. The survival rate was higher among those whose managers thought they would be successful or were already applying crisis-management techniques of a remedial nature in 1993, than among those using delaying tactics to tackle a crisis caused by the transformational recession.
2

The soft budget constraint I-II

100%
Kornai J., Maskin E., Roland G.
Kozgazdasagi Szemle (Economic Review)
|
2004
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vol. 51
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issue 9
777-809
EN
In this study published in two parts (see Part I : ibid. Vol. 51. No. 7/8, 608-624.) the authors propose a clarification of the notion of soft budget constraint, which is widely used in analysis of socialist, transitional and market economies alike. The interpretation in the study is broad enough to embrace most existing approaches to soft budget constraint phenomena and provides a classification of the causes and consequences of these. In the light of this, the study goes on to review the theoretical literature on the subject and compare it with work on other dynamic commitment problems in economics.
3
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Efektywność a restrukturyzacja samodzielnych publicznych zakładów opieki zdrowotnej

100%
Fijałkowska B.
Zarządzanie i Finanse
|
2012
|
vol. 1
|
issue 1
253-261
EN
Presented issues concern market and economic efficiency rate of independent public health care institutions. There has been done result analysis of financial restructuring in area of independent public health care institutions in Lower Silesia region in 2005-2010. The main goal of financial restructuring was a short-term liquidity ratio recovery which caused decrease of liabilities.
4

THE DEVELOPMENT AND PRESENT CONDITION OF THE PLANT BREEDING SECTOR IN POLAND AND OTHER COUNTRIES

100%
Podlaski S.
Wieś i Rolnictwo
|
2005
|
issue 3(128)
104-116
EN
In the second half of the 20th century efforts were launched in various countries of the world that led to the creation of the foundations of an organisational system referred to as the 'seed industry', which groups plant breeding and seed producing firms, as well as institutions responsible for the correct functioning of the sector. Progressing globalisation has resulted in the intensification of concentration processes in the seed industry. At present, the world production of seeds is dominated by several firms which operate on the global scale as producers not only seeds but also chemicals for agriculture, and medicines and biotechnological products. Simultaneously, the process of the state's withdrawal from supporting the practical plant breeding has started. Also observable is the growing role of self-government organisations grouping plant growers and producers of seeds, which begin to replace the state in the decision-making processes relating to the seed industry. Since the early 1990s the plant breeding sector in Poland has received assistance amounting to PLN 0.5 billion, for the restructuring of the existing companies. Despite that assistance the share of certified seeds in the total amount of grain used for sowing has decreased to 6% and the share of certified seed-potatoes has slumped to 3%. The export of Polish seeds is far lower than the export of seeds from the Czech Republic or Slovakia. Simultaneously, foreign firms are intensifying their expansion onto to the Polish market. The area of seed plantations of foreign varieties of spring barley is already larger than that of the seed plantations of Polish varieties of barley, whereas the area of seed plantations of foreign varieties of winter wheat is now only slightly smaller than the area of plantations supplying Polish varieties of seeds. Subsidies to plant breeding will be liquidated in 2007. Therefore, there is an urgent need to spin off the plant breeding entities from the existing companies and start ownership transformations using capital provided by foreign investors and/or by the employees-shareholders of the spin off entities.
5

ANALýZA SPRÁVY KORPORÁCIÍ A PROCESU VLASTNÍCKYCH ZMIEN V SLOVENSKEJ REPUBLIKE

100%
Brzica D.
Ekonomický časopis (Journal of Economics)
|
2005
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vol. 53
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issue 1
63-78
EN
The paper analyses more than a decade of corporate governance development in the Slovak Republic. After the introductory part (Part 1), the second part analyses ownership concentration patterns of the Slovak listed companies. Part 3 focuses on corporate restructuring as developed due to ownership changes. Corporate governance in banking sector is the topic of the Part 4. Evaluation of the impact of management changes on corporate governance system is studied in Part 5.In Part 6 are discussed changes in corporate governance as a consequence of implementation of legislation, regulation and self-regulation. Non-governmental initiatives, supporting the effort for higher transparency on capital market and better corporate governance, are studied in Part 7. In the final part (Part 8), a brief evaluation of expected development in the area of activities initiated at international and supranational levels is outlined.
6

INDIVIDUÁLNY VS. SPOLOČNÝ ZÁUJEM VERITEĽOV V REŠTRUKTURALIZAČNOM KONANÍ

100%
Patakyová M., Duračinská J.
Právny obzor. Teoretický časopis pre otázky štátu a práva (Juridical Review. Theoretical journal for the questions of state and law)
|
2018
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vol. 101
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issue 5
455 – 474
EN
The basic prerequisite for the success of the restructuring is an approved restructuring plan, the acceptance and confirmation of which by court must meet the legal criteria. One of the criteria is the compliance of the restructuring plan with the common interest of the creditors, which is however not defined by law. However, the interests of individual creditors are different, while the shareholders as creditors are in a different position in the process of restructuring. The article is focused on criteria that are applied to a test of creditors’ common interest in respect of conflicts of interest between creditors, and a relationship between the test of creditors’ common interest and the test of the best interest of creditors. With regard to the process of approving the restructuring plan, we also focused on the nature of the creditor’s community and on the legitimacy of the way in which the restructuring plan is approved, whether the creditors with different interests are obliged to be loyal to each other in that community. The article analyses the legal nature of the restructuring plan at the same time. The article is based on the decisions of the Constitutional Court of the SR (hereinafter referred to as the “Constitutional Court”).
7

THE IMPACT OF RESTRUCTURING ON THE AIRLINE PERFORMANCE: THE CASE OF GARUDA INDONESIA

100%
Akyuwen R.
Communication Today
|
2011
|
vol. 2
|
issue 1
112-132
EN
Garuda Indonesia is an airline company owned by the Indonesian Government. The airline has been vastly developed since being established in 1950. Remarkable growth has been achieved mainly due to the fact that in the early years there was minimal competition in the airline industry in Indonesia. Being the first Indonesian airline, Garuda Indonesia monopolised the commercial air transportation services. This situation allowed more than reasonable company performance for many years. However, since the government introduction of an open domestic airline industry in 1990, Garuda Indonesia started to face difficulties. Garuda competed against a number of private airlines, which possessed expansive strategies in developing routes as well as increasing the number of aircraft. The performance of Garuda Indonesia gradually decreased to a low when operational profit and cash flow reached negative figures during the period 1993 to 1997. Further, the seat load factor and on time performance were also worsening. To overcome these problems, restructuring was first undertaken during 1998 to 2001. The first restructuring was quite successful in reinventing the performance of Garuda Indonesia, indicated by positive operational profit and improved cash flow. Unfortunately, Garuda Indonesia's performance decreased once again after the appointment of new management in 2002. The new management tended to be inconsistent in implementing company business strategies. Operational profit gradually decreased from 2003 and this continued to 2005. By 2005, the financial and operational conditions of the company were considered to be worse than the previous problems faced in 1997. To improve the performance, new management was appointed again in 2005. This new management then started the second restructuring of Garuda Indonesia. The effort was once again quite successful in bringing Garuda Indonesia to a turnaround phase in 2007. Since then, company performance has gradually improved until today. The purpose of this research paper is to analyse the internal and external factors influencing the success of Garuda Indonesia in improving its performance through two restructuring processes. Both primary and secondary data were used in the analysis. 185 of 385 managers (57%) were selected from Garuda Indonesia businesses. Interviews and focus groups were conducted with 35 respondents, 23 were from the top management and 12 from the selected respondents. Structural equation modelling (SEM) was employed. The findings suggest that both external and internal factors have significantly influenced the performance of Garuda Indonesia. The most appropriate indicator to represent the performance of Garuda Indonesia is the improvement of operation management followed by the improvement of corporate culture and costumer relation. The economic condition is considered to be the most valid variable of external factors in influencing Garuda Indonesia's performance. The next most valid variables are competition among airline companies and fuel prices. As for internal factors, it is found that the strategic fit, leading change, and entrepreneur orientation are the three variables which had the biggest impact on the performance of Garuda Indonesia. The most valid indicator in representing the strategic fit variable is the company positioning indicator followed by environment adjustment and company value improvement indicators. The leading change variable is represented by the motivated leader, anticipatory leader, and inspirational leader. The most valid indicator to represent the entrepreneur orientation variable is the capacity to manage risks and problem solving. The second most valid indicator is the initiative capacity and risk taking bravery behaviour, while the last indicator was the self confidence and working spirit.
8

DIVESTMENTS IN AGRICULTURAL FARMS - ESSENCE, DEFINITIONS, DIVISION (Dywestycje w gospodarstwach rolnych - istota, definicje, podzial)

100%
Wojewodzic T.
Wieś i Rolnictwo
|
2010
|
issue 2(147)
96-108
EN
Processes leading to reductions in the agricultural production of farms or to the abandonment of such production are becoming more and more frequently observable. Simultaneously, the process of relocation of resources is under way, which leads to the transfer of a considerable part of these resources to non-agricultural sectors of the economy. Such phenomena are being described in scientific literature as an economic collapse and bankruptcy of agricultural farms, which is unjustified in many cases. Decisions to limit production and reduce the engagement of the resources of farmers' families in agricultural production can be seen as elements of the restructuring of specific economic entities that agricultural farms are. One of the strategic options of such restructuring can be divestments. In the presented paper efforts were launched to adapt the term 'divestments' for the purposes of agricultural economics, which is indispensable to facilitate the analysis and description of processes occurring in agricultural farms. The considerations included in the paper do not cover all aspects of the problem. It is necessary to examine the scale, the course, the structure and the effectiveness of divestments in agriculture for these issues have not been described so far in any publications.
9

Osiagniecia samorzadu powiatowego w restrukturyzacji systemu ochrony zdrowia (na przykladzie Dolnego Slaska)

100%
Kachniarz M.
Biblioteka Regionalisty
|
2010
|
issue 10
61-70
EN
The article is an attempt to summarize the effects of restructuring health-care units reporting to county self-governments. Examples are the counties of Lower Silesia, where the problems of health care reform are particularly important. It was found that the transition process advanced here is relatively high. Unfortunately, this results in serious debt of county units.
10

Problemy rozwoju Walbrzycha i ich znaczenie dla rozwoju wojewodztwa dolnoslaskiego

100%
Zakrzewska-Poltorak A.
Biblioteka Regionalisty
|
2010
|
issue 10
263-273
EN
In this paper author discussed chosen problems and barriers of Walbrzych development. Walbrzych is the second largest (in terms of the population numbers) centre in the Lower Silesia region. The author analyzed crucial sources and determinants - especially endogenous - in order to strengthen Walbrzych position in the region.
11

TAKEOVERS IN A TRANSFORMING MARKET (Vallalatfelvasarlasok egy kialakulo piacon)

88%
Vincze P.
Kozgazdasagi Szemle (Economic Review)
|
2009
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vol. 56
|
issue 1
69-83
EN
Firms in market economies are objects of purchase and sale, and purchases and mergers of them count as everyday business transactions. Ownership of firms in the Hungarian economy and purchases and mergers of them count as everyday business transactions, with ownership of such firms changing continually for the past two decades. Initially the typical form of change was privatization of state property, but ownership changes within the privately owned sector have steadily spread to become almost the exclusive form since the completion of privatization. The paper is concerned with market events in the new, developing type of transaction. Takeover processes in this country show the appearance of investment and transaction types typical of market economies, along with a system of regulating and monitoring them. But there is still only fragmentary information available on the effects these transactions have on competitive position and corporate performance.
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