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At the beginning of the 1990s, the Polish economic situation was extremely difficult: high public debt, shortages, high inflation and more than 8,000 state-owned enterprises (SOEs) waiting to be restructured and/or privatised; along with a GDP per capita lower than in Ukraine.

This chapter provides an overview of the Polish economic transition, and presents the results of this process, taking into account four aspects of the changes, i.e. stabilisation, liberalisation, institutional reforms and privatisation. Special attention is paid to intentionally unfinished privatisation and the still significant role of state-owned enterprises, which have remained important economic agents.

Critical analyses were made of the literature dedicated to the economic transition and of the role and characteristics of state-owned enterprises. Empirical evidence is drawn from original datasets about the scale of SOEs in the contemporary economy and rotations in management and supervisory boards in Polish joint-stock companies.

Despite the unfavourable initial conditions, Poland soon emerged as a leader in economic growth, successfully stabilising, liberalising and privatising its economy. The institutional foundations of a democratic market economy were consistently built, and the applications for membership in the OECD, the EU and NATO were an important driver of institutional reforms. In terms of state institutions, political and economic freedom and quality of governance, Poland is more similar to the G7 countries than to the other post-socialist countries, though the need to maintain high-quality state institutions is still a priority. The significant share of SOE is regarded as a challenge of the Polish economy because state-owned enterprises are an object of rent-seeking by politicians and political parties.

The dynamism of competition in international markets requires managers to react accordingly and ensure the firm's survival and competitiveness. This study examines the impact of cognitive styles and dynamic managerial capabilities (DMC) on a firm's international performance and the mediating role of these capabilities in the relationship between cognitive styles and international performance.

This study adopts a quantitative cross-sectional research design, employing a sample of 306 firm owner-managers from exporting companies in Kosovo.

The findings suggest that managers' cognitive styles positively influence firm international performance, including their impact on DMC. Results also indicate that only managerial cognition mediates cognitive styles' effects on a firm's international performance, compared to managers' social capital.

In this study, the authors contribute to the literature by integrating cognitive styles with DMC in a transition country. Moreover, the authors demonstrate that DMC mediate the impact of cognitive styles on the firm international performance.

To better understand the emergence of small-scale entrepreneurial firms in the under-researched transition economy of Cuba.

Given the scarcity of reliable publicly available information and restrictions on private data collection in Cuba, in-depth interviews were conducted with a panel of small-scale entrepreneurs at three different points in time. Evolutions are analyzed over this period.

Family can overcome institutional constraints by helping the entrepreneur deal with market and social obstacles. Despite the absence of a supportive entrepreneurial ecosystem, these new entrepreneurs and their families have been able to transform longstanding passive attitudes into positive steps to set up new small-scale ventures in a country facing unprecedented internal and external challenges.

A new conceptual model of family support for entrepreneurship in transition economies is presented. The findings lend weight to institutional theory on overcoming constraints in emerging markets and extend the theory of family entrepreneurship to new transition economies.

The main objective of this chapter is to figure out various challenges emerging, or transition economies face in fostering sustainable finance. In this regard, extensive review of the extant and relevant literature is conducted with specification of time range, online database, and keywords. The findings suggest the various financing barriers experienced by emerging and transition economies in implementing the sustainable development goals (SDGs). Furthermore, this chapter triggers further debate on green financing initiatives that can help in dealing with the challenges of sustainable finance. It is found that green financing initiatives offer significant solutions in emerging and transition economies. In addition, this chapter provides policy implications to academia, practitioners, financial institutions, and government agencies to promote sustainable finance.

This paper aims to examine the influence of formal and informal institutional quality on country-level variations in foreign equity shares in transition economies (TEs).

Drawing on institutional theory and transaction cost theory, this paper examines the influence of formal and informal institutional quality on country-level variations in foreign equity shares in TEs. The authors use a two-step empirical strategy, identifying clusters of explanatory variables and running generalized least squares random effect estimations to test for the influence of explanatory and control variables on foreign equity shares.

Foreign equity share is positively affected by informal institutions and negatively by formal institutions. However, when control for stage of transition we find that the the presence of informal institutions in more rapidly or advanced transforming economies negatively influences foreign equity shares. Complex infrastructure discourages foreign equity shareholdings, and foreign companies use informal practices to overcome unfavourable host country conditions. Government size has a negative effect, and gross domestic product per capita positively affects foreign equity shares.

The study is the new groundwork for the re-enactment of a fruitful discussion on foreign equity. The study has practical implications for managers, too – managers of foreign-owned firms operating in weakly installed institutional environments should carefully analyse the entry strategies because of the high presence of informal institutions. Furthermore, managers could understand the various facilitation roles of informal institutions in any firm internationalisation effort to arrive at optimal ownership holdings for better internationalisation performance. Although the study is based on a sample of transition countries, the findings have implications for other emerging economies’ contexts sharing similar institutional settings.

This study provides a unique empirical investigation and evidence based on country-level indicators on the effect of formal and informal institutions on foreign equity shares holdings in TEs, reinforcing the importance of impacts of both the formal and informal dimensions on ownership decisions of foreign investors.

The purpose of this paper is to provide a retrospective analysis of the Russian criminal legislation in the field of protection of economic relations in the transitional period of the economy.

Based on historical, as well as general scientific research, methods (induction, deduction, analysis, synthesis and historical) and private scientific methods for studying criminal law phenomena (formal-logical, statistical and document research method), the author managed to identify a number of patterns in the development of the Russian criminal legislation in the context of the chosen economic model.

In particular, it is noted that during the period of the destruction of the planned economic model and the choice of ways for the development of the economy, as well as at the initial stage of the transition period of the economy in Russia.

The author singles out the following patterns of development of criminal legislation in Russia: a) under the influence of a sharp change in the economic model, risks in the sphere of protection of economic relations; and b) the tasks of criminal law in the field of protection of economic relations are changing significantly: from protecting the state monopoly in most areas of economic activity to protecting market economic relations.

This study aims to study the moderating effects of private ownership and government support on the relationship between outsourcing and product innovation in entrepreneurial ventures in a transition economy.

The data of 10,296 Vietnamese entrepreneurial ventures from the four rounds of the survey conducted by the General Statistics Office (GSO) of Vietnam to investigate the moderating effects of private ownership and government support on the association between outsourcing and entrepreneurial ventures’ product innovation performance. The Probit regression model is employed to estimate such associations.

Our research uncovered that the impact of outsourcing on the likelihood of product innovation is more significant for entrepreneurial operations characterized by a substantial degree of private ownership and government backing as opposed to those without.

The results of our research indicated that the resource-based perspective and extended resource-based view (ERBV) are essential in examining the impact of gaining resources or skills from external sources on the growth of entrepreneurial enterprises. These ideas have significance and importance not just in industrialized economies but also in countries undergoing transition. Our findings suggest that entrepreneurial enterprises should have the ability to manage a wide range of resources and make decisions about which activities should be handled internally and which should be delegated to other parties.

Our findings also imply that entrepreneurial ventures should be able to control many resources and choose which tasks should be performed in-house and which should be outsourced to third parties.

By adopting and leveraging the resource-based view (RBV) and extended resource-based views (ERBV), our study developed a theoretical model about private ownership and government support for moderate outsourcing’s impact on entrepreneurial innovation in a transition economy.

This chapter investigates whether, and if so, how particular firms in a transition economy are involved in bribery. Built on pressure theories, we explain how the direct effects of firm characteristics and contextual characteristics determine firm bribery behavior. Entrepreneurs make choices based on perceptions of a specific pressure due to organizational characteristics (internal pressures) or due to context (external pressures). The relationship between firm characteristics, context, and bribery was estimated using unique data from a survey of 606 Vietnamese entrepreneurs. We controlled for various entrepreneurial, organizational, and industrial characteristics. The exploratory findings support firm attributes hypotheses, which is a negative relationship between firm size and bribery and a nonmonotonic U-shaped relationship between firm age and bribery. Besides, the effects of context on bribery are also found. Specifically, the result supports a positive relationship between competition and bribery and a negative relationship between the quality of the government and bribery.