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Book part
Publication date: 14 February 2008

Rebeca Raijman, Gila Menahem and Adriana Kemp

In recent decades, processes of postindustrialization, economic restructuring, and globalization have been transforming the landscape of social and economic inequalities…

Abstract

In recent decades, processes of postindustrialization, economic restructuring, and globalization have been transforming the landscape of social and economic inequalities in general (Wade, 2003), and in urban settings in particular (Baum, 1997; Fainstein, 1990; Sassen, 1990a, 1991, 1998; Waldinger, 1996). The role of cities as strategic sites in the globalization process and as arenas of economic transformation is central in the literature of globalization and economic restructuring (Fainstein, 2000; Sassen, 1988, 1998).

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Gender in an Urban World
Type: Book
ISBN: 978-0-7623-1477-5

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Article
Publication date: 1 September 1995

John E. Elliott

Examines the sequencing of economic reforms in the post‐communisttransition, focusing on Russia. Proposes a moderately expansionarystabilization, succeeded by gradual…

Abstract

Examines the sequencing of economic reforms in the post‐communist transition, focusing on Russia. Proposes a moderately expansionary stabilization, succeeded by gradual liberalization and marketization, followed by a more ambitious economic restructuring and privatization.

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International Journal of Social Economics, vol. 22 no. 9/10/11
Type: Research Article
ISSN: 0306-8293

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Article
Publication date: 2 May 2008

Beixin Lin, Zu‐Hsu Lee and Lance G. Gibbs

When firms are dealing with negative earnings and/or economic downturns, operational restructuring is often initiated as a rescue tool. Some firms recover and prevail…

Abstract

Purpose

When firms are dealing with negative earnings and/or economic downturns, operational restructuring is often initiated as a rescue tool. Some firms recover and prevail, while the others fail to survive and are subsequently delisted from stock exchange. The purpose of this paper is to identify factors that are significantly associated with the delisting risk of restructuring firms.

Design/methodology/approach

The authors draw on a sample of firms with negative earnings that undertook restructuring during the 2001 economic recession. Logistic regression estimation is used to examine the delisting risk of these firms following the restructuring.

Findings

The paper finds that delisting risk increases when firms undertake repetitive restructurings, massive workforce reduction, and large‐scale asset downsizing. Firms with high levels of debt and failure to cut costs and/or narrowing its focus on core competencies are also more likely to delist.

Practical implications

By analyzing and synthesizing the information from empirical data and business experience, this paper provides a guide for managers to effectively plan and implement a restructuring program to improve performance amid an economic downturn.

Originality/value

This is the first study to examine the survivability or delisting risk of a poorly performing firm undergoing restructuring amid an economic recession.

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Management Decision, vol. 46 no. 4
Type: Research Article
ISSN: 0025-1747

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Article
Publication date: 16 May 2008

Gongmeng Chen, Michael Firth and Wei Wei Zhang

In the mid‐1990s, China introduced the Modern Enterprise System (MES) to selected state‐owned enterprises (SOE). The paper aims to examine whether this reform led to…

Abstract

Purpose

In the mid‐1990s, China introduced the Modern Enterprise System (MES) to selected state‐owned enterprises (SOE). The paper aims to examine whether this reform led to improved efficiency and profitability.

Design/methodology approach

The efficiency and performance of enterprises before and after the economic restructuring are examined. Univariate and multivariate (regression) analyses are used to investigate whether there has been a significant change in an enterprise's performance.

Findings

The paper finds there is no improvement in efficiency and profitability after the restructuring. This can be attributed the lack of improvement to the state's ownership of enterprises, bureaucratic management, and poor corporate governance. These things have to change in order to improve corporate efficiency and performance.

Originality/value

China's reform of SOEs is very important to the economic well‐being of the country. This paper is the first to investigate the MES as applied to wholly state‐owned enterprises.

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Asian Review of Accounting, vol. 16 no. 1
Type: Research Article
ISSN: 1321-7348

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Article
Publication date: 1 March 1989

Ernest Raiklin

Gorbachev′s book Perestroika is used to explain why theauthor believes the new policy of restructuring of the Soviet economycannot and will not work. The policies of…

Abstract

Gorbachev′s book Perestroika is used to explain why the author believes the new policy of restructuring of the Soviet economy cannot and will not work. The policies of Perestroika are introduced and evaluated and the existing socio‐economic system presented. At the end of this sceptical Western analysis, it is concluded that the policy is cosmetic restructuring and Gorbachev′s downfall, like Khruschev′s, is assured.

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International Journal of Social Economics, vol. 16 no. 3
Type: Research Article
ISSN: 0306-8293

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Corporate Financial Distress
Type: Book
ISBN: 978-1-83982-981-9

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Article
Publication date: 31 August 2010

John Hassard, Jonathan Morris, Jackie Sheehan and Xiao Yuxin

The purpose of this paper is to examine how the Chinese economic reform process has engendered significant changes in the structure and management of work organizations…

Abstract

Purpose

The purpose of this paper is to examine how the Chinese economic reform process has engendered significant changes in the structure and management of work organizations. Central to this process has been the “marketization” of state‐owned enterprises (SOEs). The paper reviews the attempts to reform SOEs as conducted, primarily, under the modern enterprise system (MES) and group company system (GCS) programmes.

Design/methodology/approach

The paper analyses institutional issues relating to organizational restructuring, describes the evolution of the SOE “problem” in China, and discusses case evidence of enterprise reform in one of the largest SOE‐dominated industries, iron and steel. Qualitative field data, collected regularly (mostly yearly) since 1995, were derived from in‐depth interviews with executives of ten large SOEs that have restructured as part of MES and GCS programmes.

Findings

It is suggested that the historic reluctance of SOEs to embrace reform stems from three main factors – the opaque nature of property rights, the failure of ministries to produce a firm strategy for channelling surplus labour and the inability of government agencies to offer a sense of managerial autonomy to SOE executives. Recent policies designed to overcome these problems together with kindred ones for separating government functions from business operations in the drive to prepare SOEs for global markets are described. It can be argued that China's preference for gradual reform reflects the wider reform context where economic restructuring has not been accompanied by a greater expression of political democracy.

Originality/value

The paper's findings offer insights from a major longitudinal field study of two of the main programmes of China's reform period.

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Journal of Organizational Change Management, vol. 23 no. 5
Type: Research Article
ISSN: 0953-4814

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Modelling the Riskiness in Country Risk Ratings
Type: Book
ISBN: 978-0-44451-837-8

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Article
Publication date: 1 April 2003

Georgios I. Zekos

Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination…

Abstract

Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination of some legal aspects concerning MNEs, cyberspace and e‐commerce as the means of expression of the digital economy. The whole effort of the author is focused on the examination of various aspects of MNEs and their impact upon globalisation and vice versa and how and if we are moving towards a global digital economy.

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Managerial Law, vol. 45 no. 1/2
Type: Research Article
ISSN: 0309-0558

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Article
Publication date: 1 October 1996

John M. Luiz

Points out that it would be naïve to believe that democracy in itself will solve all South Africa’s problems. Also that the legacy of apartheid lives on and will continue…

Abstract

Points out that it would be naïve to believe that democracy in itself will solve all South Africa’s problems. Also that the legacy of apartheid lives on and will continue to do so for many generations to come. Examines the socio‐economic restructuring of South Africa, looking at whether it will be possible to make amends for past injustices while not harming future economic development. Emphasizes the role of the welfare system in improving the quality of life of black South Africans and examines whether the welfare state is a feasible option.

Details

International Journal of Social Economics, vol. 23 no. 10/11
Type: Research Article
ISSN: 0306-8293

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