Privatisation of Central Public Sector Enterprises in India

This paper investigates the different phases of reform state owned enterprises (SOEs) that India had been experience since the beginning of reform and analyses the policy objectives behind the policy of SOEs reforms introduced. Having evaluated the policy objectives based on various source the paper seeks to find the degree to which the objectives have been achieved and had an impact on the performance of SOEs. The paper finds three different phases of privatisation with different objectives and that the of performance of SOEs during these phases have been different. The analysis of performances of SOEs in different phases leads to questioning of the need for privatisation and speculation as to whether the actual objective behind the overall privatisation process is to generate revenue to cut the government fiscal deficit.

Tak trudno się rozstać

The aim of this article is to analyse the privatisation process in the Republic of Belarus. This analysis will help to answer two questions. Firstly, is Belarusian privatisation strategic in nature? Secondly, what theoretical framework explains Belarusian privatisation policy?Juxtaposing the process of transferring state property to the private sphere in Belarus with traditional theoretical frameworks explaining the causes and course of privatisation in the former Soviet bloc countries does not fully explain the actions of the Belarusian authorities. Privatisation transactions were not part of a broader plan to restructure the economy. They were carried out ad hoc, usually as a result of a combination of two factors – pressure from external actors and the need to raise budget funds.To explain the actions of President Alexander Lukashenko, it seems appropriate to use an approach derived from the concept of power-ownership developed by Russian researchers Yuri Latov and Rustem Nureev. This assumes the formation of property rights from above and directly links political power with property control. In this view, giving up control over property is tantamount to giving up political power.

Privatisation in Ukraine as a Deterrent to the Innovative Development of the National Economy

The study investigates the stages and features of privatisation in Ukraine. it describes the impact and consequences of privatisation on the economic potential of the country. The main features and problems of the privatisation process in Ukraine are identified. Theoretical and practical analysis of the consequences of privatisation of state property on the innovative development of Ukraine's economy has been carried out. It was established that the withdrawal from state ownership by means of privatising enterprises is a challenge that negatively affects innovation activity, because it is mainly associated not with the creation of "know-how" to ensure economic development, but with encroachment on material resources states with the motive of enrichment, which leads to the cessation of development and introduction of existing (often imported) technologies and, as a consequence, threatens the internal innovation potential and national security of the country. The proposed ways to reform the privatisation process are aimed at mitigating the consequences of unfair privatisation to strengthen the competitiveness of the national economy, its innovative development and improve the social situation of citizens of Ukraine.

«Zum Glück bauen wir keinen Trabant»

Abstract«Fortunately we don’t build a Trabant». The East German shipyard industry between optimism about the future and the crisis, 1989/90 to 1994The «Peaceful Revolution» led to a tremendous political, economic and social transition. The rapidly collapsing present with its very uncertain parameters had an impact on the social and cultural realities of everyday life. Especially the GDR shipyard industry, as one of the key industries, shaped specific experiences and formed the mentalities of the region’s people. By looking at the shipbuilding firm’s privatisation process after 1989, this article examines how the upheavals of the «Wende» opened a framework in which many actors operated in the context of their own experiences and their own points of view, which shaped their perceptions and actions. The article discusses how public communications and optimistic promises from politicians and economic actors prompted specific expectations. The difficulties that the shipbuilding industry actually faced after the end of the planned economy were known to those responsible and even debated within the Treuhandanstalt (THA), but seemed to take a back seat in public communication fields. Especially during the first phase of privatisation, which is defined here as the period from November 1989 to 1991, we can see how promises are made and by whom, as well as how and why this could lead to disappointment and disillusionment on the one hand and new beginnings and horizons on the other. This first phase reveals the contradictions of expectations and reality.

Romanian post-communist agriculture – structural dynamics and challenges

This paper represents an overview on the structural dynamics of Romanian agriculture, and the challenges faced. Describing the main changes over the last three decades, the analysis here should facilitate understanding of how communist-era agriculture of a centralised state might be transformed into something able to operate efficiently under free-market conditions. The specifics of Romania’s agricultural transition connect closely with certain preconditions, among them in particular the high proportion of the national population that is still rural. A privatisation process set in rapidly post-1989, as the old State Farms were dissolved over just two years. The role this economic branch played in the generation of GDP decreased, in a manner suggesting the former level will not be re-achieved, but farmers have worked to improve their basic infrastructure. The main obstacle would now seem to be the excessive fragmentation of agricultural land and the only-slow process of consolidation. Current characteristics of structural dynamics are visible in trends towards specialisation in farming, livestock restructuring, the slow (re-) development of irrigation infrastructure, increased land prices and more typical processes of a “land grab” profile. In this connection, the paper identifies 9 challenges Romanian agriculture faces, presenting these synthetically to ensure a clarification of objectives, with a view to greater upgrading of the country’s huge potential being achieved.

Performance effects of privatisation: an empirical analysis of telecommunication companies in Germany and Romania

The privatisation of state-owned companies is still on the agenda of many governments worldwide. One often stated goal in the privatisation process is the increase of efficiency of the company. The question is which factors do lead to an increase in efficiency and performance of a privatised company. Where are the fundamental differences between public and private companies in this respect? One goal of this paper is also to determine if other or additional variables influence the efficiency of privatised companies in transitional countries - in contrast to developed economies. Based on the research literature, a model was developed that displays all major forces and effects in the privatisation process. Two case studies of telecommunications companies in Germany and Romania are utilised to verify the model. It is expected that privatisation will lead to an increase of efficiency, but that the main thrust derives from competition. Regulation and organisational change will typically also increase the efficiency of the company. The variables “laws and policies” and “economic condition” are of special importance for privatisations in transition economies.

The impact of privatisation process on business performance of the selected companies in the Republic of Croatia

Privatisation processes have begun in the last decades of last century. Many countries recognized the advantages of privatisation in the form of financial goals such as increasing state budget, lowering indebtedness and strengthening market economy. Furthermore, the presumption of privatisation is that private ownership is better for achieving higher profitability of a company. Financial statements are common expression tools for companies’ business performance and financial position. Since accounting information system is a system where business events should be recorded, main output of the system are basic financial statements. The main goal of this study was to investigate the impact of privatisation process on business performance on the example of the selected companies in the Republic of Croatia. For the purpose of the study, the theoretical analysis of privatisation effects on business performance was made. Other than that, the empirical analysis of the selected companies in Croatia was conducted. This analysis was performed in two ways. First, the analysis of the selected financial ratios before and after the privatisation process was done through quartile analysis. The observed financial ratios were gross profit margin, ROA, ROE, total assets turnover and total economy ratio. To gain the individual impact of the privatisation process a deeper analysis of the selected ratios was conducted on the same research sample. Research results based on quartile analysis indicated that there is a difference between profitability prior and after privatisation and the privatized companies are more successful than the observed state-owned companies. However, based on the individual analysis’ research results the hypothesis that privately owned companies are more successful than the state-owned companies is only partially confirmed.