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Journal articles on the topic 'Restructuring and rehabilitation of enterprise'
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1
Lazko, Svetlana. "ĮMONĖS RESTRUKTŪRIZAVIMO VYKSTANT BANKROTO PROCEDŪRAI SAMPRATA." Teisė 92 (February 11, 2015): 170–76. http://dx.doi.org/10.15388/teise.2014..3901.
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The article deals with the features of enterprise restructuring in bankruptcy. Ukrainian and foreign scientific literature, periodicals and materials existing legislation are analyzed. We have investigated the concept, analyzed the common signs of enterprise restructuring, as well as specific properties that reflect the essence of restructuring in bankruptcy. Special attention is paid to this form of restructuring as a division of the debtor to transfer debt to third parties not subject to rehabilitation. On the basis of these features suggested a definition of enterprise restructuring in bankruptcy.
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Shishmareva, Tatyana P. "Legal means of effective rehabilitation of a debtor or its enterprise in restricting procedures in Russia and Germany." Vestnik of Saint Petersburg University. Law 12, no. 4 (2021): 1128–36. http://dx.doi.org/10.21638/spbu14.2021.420.
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The article analyzes the legal means of rehabilitation during the extrajudicial procedure for restructuring an enterprise in German law, as well as the provisions of the Russian law draft that introduces a similar judicial procedure. The purpose of this study is to formulate the main provisions of the rehabilitation procedures of insolvency (bankruptcy) in the national Russian legislation on the basis of the normative regulation and doctrinal concepts prevailing in Germany, where both debtor and his enterprise can be rehabilitated. The main research methods used were comparative legal and historical legal methods in combination with the systematic method. The methods of synthesis, interpretation, and the teleological method were also used to assist in selecting the appropriate legal means to achieve the goal of rehabilitating the debtor or his enterprise. The legal nature of the law of the restructuring plan is analyzed as well as its main elements and the procedure for adoption and approval that takes into account creditors’ interests of. It is concluded that rehabilitation can be carried out in the form of extrajudicial rehabilitation both within the framework of a special procedure and in a free form on the basis of an agreement between the debtor and his creditors in regard to debt restructuring. The legal means of reorganization of the debtor and his enterprise are highlighted. It is substantiated that the Russian legislation needs to change its concept of rehabilitation procedures. First of all, it is necessary to complement the goal of rehabilitation procedures by translatable rehabilitation if the debtor cannot be rehabilitated and to use appropriate legal means of stabilizing and preserving the debtor’s business or part of it to minimize the negative consequences of insolvency.
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Ershova, Inna Vladimirovna, Tatiana Petrovna Shishmareva, Ekaterina Evgenievna Enkova, Olga Viktorovna Sushkova, and Sergey Sergeevich Galkin. "Reforming Russian legal mechanisms for the rehabilitation of the debtor through the prism of comparative studies." SHS Web of Conferences 118 (2021): 01006. http://dx.doi.org/10.1051/shsconf/202111801006.
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The purpose of this study is to formulate the main elements of the legal model for reforming the Russian insolvency legislation based on the analysis of regulatory decisions of foreign legal orders, where the idea of the sanation of the debtor and its enterprise is successfully implemented. Comparative-legal and sociological methods of scientific cognition were used as a methodological basis. The results of the work were the analysis of the experience of the United States and Germany, the legislation of which contains effective models for resolving the conflict between the debtor and its creditors within the framework of sanation. In addition, the authors formulated and substantiated the conclusion regarding the urgent need to change the Russian concept of insolvency legislation through the transition from the liquidation of insolvent entities, mainly to the sanation of debtors or its enterprises. The authors also proposed key elements of a possible legal model for such reform, including establishing a unified restructuring competitive procedure for debtors – legal entities; preserving the powers of the debtor in the course of this procedure to handle its corporate management; solving the most significant issues of the restructuring procedure mainly by reaching an agreement between the main participants in the procedure – the debtor, the beneficiaries of the debtor and various classes of creditors. The novelty of the work lies in formulating the problem and substantiating the requirement to transform the Russian legal mechanisms for the rehabilitation of the insolvent debtor, taking into account the legal solutions presented, first of all, in American and German insolvency legislation.
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Nusinov, V. Ya, V. G. Oliukha, L. A. Burkova, and V. А. Shepeliuk. "BANKRUPTCY PREVENTION OF ENTERPRISES AS A COMPONENT OF SUSTAINABLE DEVELOPMENT." Economics and Law, no. 4 (December 6, 2021): 18–31. http://dx.doi.org/10.15407/econlaw.2021.04.018.
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Sustainable development of the enterprise is characterized by stable, balanced functioning of its three subsystems – economic, social and environmental. However, development is impossible without ups and downs, which disrupts stability. Recently, the spread of the pandemic has had a negative impact on the world economy and jeopardized the level of its sustainable development. In Ukraine, the impact of the pandemic has exacerbated the crisis due to the stratification of the unstable economic and political situation in the country. As a result, this led to a rapid growth in the number of unprofitable enterprises. Statistics show an increase in the number of initiated bankruptcy proceedings of enterprises and even their liquidation due to insolvency. The article hypothesizes that development cannot occur constantly, and therefore does not exclude the possibility of volatile states. Unsustainable development of the enterprise is characterized by its financial insolvency, which is identified with its bankruptcy. At the same time, bankruptcy of enterprises in Ukraine is quite common. Bankruptcy of the enterprise – the inability of the debtor to restore its solvency through the procedure of rehabilitation and restructuring and is a consequence of unsustainable development. It arises due to external (economic, scientific and technical, political, legal, international, environmental, pandemic, infrastructural) and internal factors (poor management of the founders of the debtor and its management). Internal factors are the main ones. Economic and legal means that can help identify in the early stages of negative trends in financial condition and prevent them – the development plan of the enterprise. One of the components of this plan is the economic analysis of the financial condition of the enterprise. The legislator has significantly simplified the requirements for filing a lawsuit to declare a company bankrupt. This can lead to abuse of the right to file such a lawsuit (raider seizures, tax evasion and unfair competition). In our opinion, a safeguard against abuse can be not only certain restrictions for the initiating creditor in the right to file for bankruptcy, but also the establishment by the legislator of increased liability for him in case of establishing the facts of abuse of such a right. In addition, the article emphasizes that the current methodological approaches to assessing the probability of bankruptcy of enterprises do not allow establishing the approach of this event taking into account the time factor, but only indicate the possibility of its occurrence. In this case, the range of possible time affects the choice of top management of urgent measures to correct the financial condition of the enterprise, the implementation of which will prevent the opening of bankruptcy proceedings or to delay the likelihood of its occurrence. The proposed methodological approaches allow determining the probability of bankruptcy of Ukrainian enterprises in order to predict the development of events in the early stages of bankruptcy.
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Shchuryk, M. V., and Z. V. Osypenko. "Preservation and Rehabilitation of Forest Resources in the Carpathian Macro-region." Statistics of Ukraine 86, no. 3 (December 5, 2019): 100–106. http://dx.doi.org/10.31767/su.3(86)2019.03.11.
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Problems related with increase of forests lands in Ukraine and on the globe are in focus of many domestic scientists, power and business entities, industrialists and others. Considerable interest to forestry products is shown by power bodies, local self-government bodies, private businesses. One of the most significant factors affecting rehabilitation and preservation of forest resources is the model of forestry sector operation in Ukraine as a whole and the Carpathian macro-region in particular. It refers to the principles of rehabilitation process, outlined in the period of the command-administrative model of management, but embedded in the current market mechanism. However, the studies confirm that market and command-administrative models of management are incompatible.
It is demonstrated that highly effective use, rehabilitation, preservation and protection of forest resources is conditional on the involvement of government and local territorial communities. First and foremost it refers to formulating new operative principles for providing financial assistance, subsidies to forestry enterprises, private owners. Unprofitability of forestry enterprises and organizations shows the need in constructing and implementing a new model for organization and management in this important economic sector. It is demonstrated that such model cannot be built without relevant and reliable information base, which requires improvements in the existing system of collection, processing and analysis of statistical data. Chronic unprofitability in the domestic forestry sector in parallel with the increasing scales of forest felling, growing timber sales and enrichment of selected persons associated with power offices and local power bodies is a sign of the existence of shadow and corrupted entities in the domestic forestry sector. This requires not only revision of the current forestry policy, but setting a new one, along with adapting global practices in organizing preservation, use, rehabilitation and protection of forestry resources, of which the most important is land. First and foremost, priorities of organization and management in the forestry sector need to be changed. An important step towards optimization of the rehabilitation process of forest land plots in the studied macro-region should be restructuring, with returning private property to former owners. This change has to ensure the profitability of forestry enterprises, diversification of ownership forms, preservation and protection of forest resources for current and future generations.
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Pradoto, Herlam, Siswoyo Haryono, and Sri Handari Wahyuningsih. "The role of work stress, organizational climate, and improving employee performance in the implementation of work from home." Work 71, no. 2 (February 18, 2022): 345–55. http://dx.doi.org/10.3233/wor-210678.
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BACKGROUND: The spread of COVID-19 around the world has caused many undesirable effects on human health. The pandemic forced the employees to resort to Remote Work (RW)/Work from Home (WFH) according to the nature of the jobs. Consequently, organizations, business process and results are affected and organizational and commercial activities are significantly reduced. OBJECTIVE: This study investigates the impact of work stress and organizational climate on employee performance in the context of WFH in the era of the COVID-19 pandemic in micro, small and medium enterprises (MSMEs). METHOD: This study used a purposive sampling strategy and determined using the Slovin equation and equals 95 employees in marketing, business restructuring and finance. The Partial Least Square (PLS) approach and and the SmartPLS version 3.0 software for data analysis processing procedures for hypothesis testing were used. RESULTS: The results revealed that the organizational environment has a negative and significant effect on job stress. Furthermore, job stress had a negative impact on employee performance and the organizational climate had a favorable and considerable impact on employee performance. CONCLUSION: The lower the level of work stress, the higher the employee performance, and vice versa. Organizational climate has a positive and significant effect on employee performance, which means that the organization’s climate is conducive, so the employee performance will increase and vice versa.
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Kurashvili, B. P. "Restructuring and the Enterprise." Problems in Economics 31, no. 5 (September 1988): 23–46. http://dx.doi.org/10.2753/pet1061-1991310523.
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Bornstein, Morris. "Post-privatisation Enterprise Restructuring." Post-Communist Economies 13, no. 2 (June 2001): 189–203. http://dx.doi.org/10.1080/14631370120052663.
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Robinson, Izabela. "Enterprise Restructuring in Transition." Journal of East-West Business 10, no. 2 (December 9, 2004): 45–64. http://dx.doi.org/10.1300/j097v10n02_04.
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Gil, Izabella. "Ponadczasowość regulacji prawnych dotyczących niewypłacalności." Studia nad Autorytaryzmem i Totalitaryzmem 43, no. 4 (December 31, 2021): 241–51. http://dx.doi.org/10.19195/2300-7249.43.4.19.
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The study describes the legal regulations concerning insolvency in the period of the Second Polish Republic. The political system of the Republic of Poland in the years 1926–1935 is described as authoritarian in order to distinguish it from the total fascist system.
The difficult economic and financial situation of the Polish state during the post-partition period required state interference in introducing legal regulations ensuring protection of creditors, while taking into account the rights of debtors who became insolvent for no fault of their own. Bankruptcy became a society-wide problem, albeit of varying severity. The study describes legal regulations concerning insolvency, which are included both in the Ordinance of the President of the Republic of Poland of 24 October 1934, the Law on Settlement Proceedings (Journal of Laws of 1934, No. 93, item 836, with binding force from 1 January 1935), and in the Ordinance of the President of the Republic of Poland of 24 October 1934, the Bankruptcy Law (Journal of Laws of 1934, No. 93, item 834, with binding force from 1 January 1935). The above-mentioned legal acts contained regulations adjusted to the state of insolvency, which is the result of the debtor’s difficult economic and financial situation. The state of the debtor’s insolvency or the threat of insolvency determined whether it was possible to conduct a procedure in which the debtor entered into an arrangement with creditors or whether the debtor should be declared bankrupt.
In the case of bankruptcy, a trustee appointed by the bankruptcy court managed the assets of the bankrupt, constituting the bankruptcy estate, and the bankrupt was deprived of the right to manage their assets. The main purpose of bankruptcy proceedings was to sell the assets included in the bankruptcy estate and to achieve equal satisfaction of creditors of the bankrupt debtor. The course of these proceedings was different and depended on whether it was possible to make an arrangement with the creditors or whether it was necessary to implement procedures related to the liquidation of the bankrupt debtor’s assets. Although both legal acts were enacted in the interwar period, they were in force until the entry into force of the Act of 28 February 2003, the Bankruptcy and Reorganization Law (Journal of Laws of 2003, No. 60, item 535), that is, for almost 60 years. Therefore, regardless of the changes in the political system of the Polish state, the insolvency regulations from the authoritarian period in the Second Republic remained in force for many decades. The timelessness of these regulations is confirmed by the fact that some of the legal regulations that were enacted in 1934 are still applied today, although they have been partially modified and adapted to the current economic situation. The entry into force on 1 January 2016 of the Law of 15 May 2018 on Restructuring Law (Journal of Laws of 2015, item 978) resulted in a return to the separation of legal regulations that can be implemented depending on the debtor’s difficult financial situation. The Restructuring Law currently regulates the proceedings enabling an insolvent debtor or a debtor at risk of insolvency to enter into an arrangement with creditors, the effects of an arrangement as well as the conduct of the rehabilitation proceedings. The purpose of the various types of restructuring proceedings is to avoid declaring bankruptcy. On the other hand, the Bankruptcy Law, similarly to the period of the Second Polish Republic, regulates the procedure, the main purpose of which is to achieve equal satisfaction of the creditors of the debtor in the bankruptcy to the highest possible extent, and only if rational considerations allow the debtor’s current enterprise to be retained.
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Commander, Simon, and Mark Schankerman. "Enterprise restructuring and social benefits." Economics of Transition 5, no. 1 (May 1997): 1–24. http://dx.doi.org/10.1111/j.1468-0351.1997.tb00001.x.
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O., Mikhailenko, Shcherbak Yu., and Kolos T. "CREATING A BUSINESS PLAN FOR ENTERPRISE RESTRUCTURING." Scientific Bulletin of Kherson State University. Series Economic Sciences, no. 42 (June 25, 2021): 24–29. http://dx.doi.org/10.32999/ksu2307-8030/2021-42-4.
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In today's conditions, the interest of enterprises in the implementation of restructuring is constantly growing. Until recently, only enterprises that were in a pre-crisis or crisis state were interested in the restructuring tool, but the constant trends of changes in the economic environment encourage successful enterprises to use restructuring as well. Restructuring is considered as an effective tool for overcoming crisis phenomena in the activities of economic entities, increase efficiency, level of competitiveness and value of enterprises. The experience of enterprise restructuring in different periods of economic development allows to characterize the purpose, objectives of restructuring, describes its main stages, determine the features of the restructuring process and develop an algorithm for restructuring. In the study of enterprise restructuring, the main conceptual ideas of existing theoretical models of formation of organizational support for restructuring were identified. Analyzing the stages of the restructuring and the documents that help its implementation, it was concluded that the requirements of the parties interested in the restructuring are not met. This necessitates the definition of the main documents that need to be formed at each stage of the restructuring and the development of an effective business plan for its implementation. The development of a business restructuring plan should be based on the transformation of one alternative option to achieve the established objectives of the restructuring and be a comprehensive plan of specific actions with the definition of deadlines, resources, persons responsible for their implementation. The authors analyze the existing approaches to the development of a business restructuring plan and propose their own structure of the business restruc-turing plan of the enterprise, which includes the formation of a questionnaire – a summary of the enterprise, the target restructuring program and the restructuring plan. The practical significance of the obtained results is that the theoretical provisions of the article have an applied value and can be used in any economic activity of enterprises in modern business conditions.Keywords: restructuring, restructuring business plan, target restructuring program, stages of restructuring, restructuring methods, restructuring measures, restructuring concept, business plan implementation. В умовах сьогодення інтерес підприємств до здійснення реструктуризації постійно зростає, зумовлюючи необхідність у визначення основних етапів реструктуризації та розроблені дієвого бізнес-плану її реалізації. У даній статті узагальнено поняття реструктуризації підприємства, охарактеризовано мету, цілі проведення реструктуризації та описано основні її етапи. Авторами здійснено аналізування існуючих підходів до розробки бізнес-плану реструктуризації та запропоновано власну структуру бізнес-плану реструктуризації підприємства. Встановлено, що розробка бізнес-плану реструктуризації повинна являти собою комплексний план конкретних дій з визначенням строків, ресурсів, відповідальних осіб за їх реалізацію. Практична значущість одержаних результатів полягає в тому, що теоретичні положення статті мають прикладне значення та можуть бути використані в будь-якій економічній діяльності підприємств в сучасних умовах господарювання. Ключові слова: реструктуризація, бізнес-план реструктуризації, цільова програма реструктуризації, етапи проведення реструктуризації, методи реструктуризація, заходи реструктуризації, концепція реструктуризації, реалізація бізнес-плану.
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LARIONOVA, Katerina, and Tetyana DONCHENKO. "THEORETICAL FUNDAMENTALS OF INNOVATIVE ENTERPRISE RESTRUCTURING." Herald of Khmelnytskyi National University 292, no. 2 (May 2021): 113–20. http://dx.doi.org/10.31891/2307-5740-2021-292-2-19.
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The article investigates and highlights the approaches to defining the concept of “enterprise restructuring” depending on the state of its development strategy, substantiates the economic essence of the concept of “innovation” and “innovative activity “. Based on the combination of characteristics and essence of these concepts, the definition of “innovative restructuring” is formalized and the author’s definition is proposed. It is determined that innovative restructuring is practiced not so much in crisis enterprises as in enterprises that operate stably and seek radical quality change. When making changes, the main ones should be the innovative orientation of management systems, production flexibility, purposeful and effective innovations. It is proved that for effective and complex innovative restructuring it is necessary to improve the enterprise management system by developing and implementing new principles, methods and management structures. That is why the elements of the mechanism of innovative restructuring of the enterprise were singled out and the functions of innovative restructuring were defined and detailed, which allowed to improve the conceptual and categorical apparatus of this economic concept. It is proved that the condition for effective implementation of innovations in the framework of restructuring is the presence of innovative potential in the enterprise. In addition, the transition of the enterprise from one stage of development to another involves the gradual development of innovation potential. This explains the close relationship and mutual influence between innovative restructuring and the innovative potential of the enterprise. Thus, the achievement of goals in the process of enterprise restructuring will depend on the ability to form an effective system of innovation management and the level of innovation potential of the enterprise – its ability to achieve innovative goals.
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Apostolov, Mico. "Governance and enterprise restructuring: the case of Macedonia." International Journal of Emerging Markets 9, no. 1 (January 14, 2014): 147–56. http://dx.doi.org/10.1108/ijoem-06-2011-0057.
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Purpose – This paper is a case study of the Republic of Macedonia and focuses on the development of governance and enterprise restructuring. Thus, country's effective corporate governance and corporate control, which impact enterprise restructuring, are essential in the analysis of market-driven restructuring through domestic financial institutions and markets. The data used in this article are analyzed with an econometric regression model, which as employed in this study examines the interrelationships between governance and enterprise restructuring and set of policies that influence the governance patterns. Two basic hypothesis are taken in the analysis: first, governance and enterprise restructuring depend on set of policies, such as, large-scale privatization, small-scale privatization, price liberalization, competition policy, trade and foreign exchange system, banking reform and interest rate liberalization, securities markets and non-bank financial institutions and overall infrastructure reform; and second, governance and enterprise restructuring improves over time due to imposed policies. The paper aims to discuss these issues. Design/methodology/approach – The data used in this article are analyzed with an econometric regression model, which as employed in this study examines the interrelationships between governance and enterprise restructuring and set of policies that influence the governance patterns. Findings – There is still more to be done in order to bring these economies closer to the standards of developed ones. Indeed, it is needed considerable improvement of corporate governance, institution-building to control agency problems and imposing already adopted regulation, as well as, enforcing new enterprise restructuring policies, within existing policies of overall transition economy restructuring. Originality/value – This paper is a contribution to the research developing the business aspects of the Macedonian economy, as there is constant lack of scientific papers that deal with the specific issues of corporate governance and enterprise restructuring.
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Danilin, N. N. "RESTRUCTURING ENTERPRISE MANAGEMENT SYSTEM IN CRISIS." Business Strategies, no. 2 (November 24, 2014): 82. http://dx.doi.org/10.17747/2311-7184-2014-2-82-87.
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Białowąs, Piotr Jacek. "ENTERPRISE RESTRUCTURING: A QUALITY MANAGEMENT PARADIGM." Czech Journal of Social Sciences, Business and Economics 7, no. 1 (May 1, 2018): 24–28. http://dx.doi.org/10.24984/cjssbe.2018.7.1.3.
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Volotskoy, А. А. "Restructuring as а optimization mechanism of enterprise activity." Ekonomicheskie i sotsial’no-gumanitarnye issledovaniya, no. 1(29) (2021): 6–10. http://dx.doi.org/10.24151/2409-1073-2021-1-6-10.
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The study focuses on the nature of restructuring, highlighting its causes and stages, uses a systematic approach as a unified method of scientific knowledge. The author demonstrates the relationship of the internal and external environment of the enterprise with the success of the restructuring process, and also substantiates the need for careful planning of restructuring procedures in order to minimize risks. The definition of restructuring, given by the author, streamlines the previously accepted concepts and believes restructuring as a cyclical systematic process of strategic planning, which leads to comprehensive changes in the enterprise activity and improve production efficiency.
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Varchenko, Olga, and Iryna Herasymenko. "METHODICAL APPROACHES TO COST ESTIMATION OF SYNERGY EFFECT OF ENTERPRISE RESTRUCTURING." Economic Analysis, no. 31(3) (2021): 115–24. http://dx.doi.org/10.35774/econa2021.03.115.
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Introduction. Modern business conditions are characterized by increasing both external and internal risks, which requires the management of enterprises to develop effective tools to increase its competitiveness and value. For the management of the enterprise it is necessary to take into account the peculiarities of the formation of synergetic effects during the restructuring and to assess the vectors of their impact on its value, which will allow to make rational management decisions. That is why there is a need to generalize methodological approaches to assessing the overall synergy effect in the restructuring of the enterprise and its impact on the increase in its value. Goal. The aim of the article is to gene ralize the algorithm of formation of different types of synergetic effects in enterprise restructuring and to develop methodological approaches to assess their impact on the value of the enterprise, which should be used in the system of cost-oriented management. Method (methodology). The following methods were used during the research: abstract-logical and monographic methods were used in the process of theoretical generalization and formulation of conclusions; method of system analysis in the development of the algorithm for the formation of synergetic effects by type of activity of the enterprise; retrospective analysis, induction and deduction in the identification of synergetic effects by type of activity in the restructuring and determining the vector of their impact on the value of the enterprise. Results. The manifestations of synergetic effects during the restructuring of the enterprise are investigated and their influence on the value of the enterprise is proved. Manifestations of synergetic effects of restructuring by types of assets and activities of the enterprise are identified. Methodical approaches to assessing the impact of synergetic effects in the restructuring of the enterprise on its value are substantiated, which will allow to make sound management decisions on reorganization and help increase the efficiency of the management system, investment attractiveness and competitiveness.
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de Villiers, Johann U. "Enterprise Restructuring in Transition: A Quantitative Survey." CFA Digest 33, no. 2 (May 2003): 22–23. http://dx.doi.org/10.2469/dig.v33.n2.1260.
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Bhattacharya, Rina. "External Sector Reform and Public Enterprise Restructuring." IMF Working Papers 00, no. 120 (2000): 1. http://dx.doi.org/10.5089/9781451854268.001.
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Geuskens, Goedele A., Lando L. J. Koppes, Seth N. J. van den Bossche, and Catelijne I. Joling. "Enterprise Restructuring and the Health of Employees." Journal of Occupational and Environmental Medicine 54, no. 1 (January 2012): 4–9. http://dx.doi.org/10.1097/jom.0b013e31823c766e.
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Apostolov, Mico. "Governance and enterprise restructuring in Southeast Europe." International Journal of Social Economics 40, no. 8 (June 28, 2013): 680–91. http://dx.doi.org/10.1108/ijse-07-2012-0124.
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Djankov, Simeon, and Peter Murrell. "Enterprise Restructuring in Transition: A Quantitative Survey." Journal of Economic Literature 40, no. 3 (September 2002): 739–92. http://dx.doi.org/10.1257/jel.40.3.739.
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Samonis, Val, Vasily V. Vitryanski, and Vladimir Postyshev. "Enterprise Restructuring and Turnaround Management in Russia." Journal of East-West Business 4, no. 1-2 (August 28, 1998): 191–98. http://dx.doi.org/10.1300/j097v04n01_11.
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Fries, Steven M. "Enterprise Restructuring and Control in Transition Economies." Economics of Transition 3, no. 1 (March 1995): 115–21. http://dx.doi.org/10.1111/j.1468-0351.1995.tb00202.x.
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Mo, Xinlin, and Jinglu Jiang. "Political Connections, Debt Restructuring, and Enterprise Investment: Evidence from China." Discrete Dynamics in Nature and Society 2020 (June 28, 2020): 1–13. http://dx.doi.org/10.1155/2020/5041768.
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This paper shows that the link between debt restructuring and enterprise investment in emerging economies hinges critically on the political connections. Taking Chinese A-share listed enterprises from 2005 to 2016 as samples, we examine whether and how political connections affect the relationship between debt restructuring and enterprise investment based on the DID method. The results show that compared with nonpolitically connected enterprises, debt restructuring effectively improves the investment efficiency in enterprises with political ties, which is mainly due to alleviating the overinvestment and underinvestment. Furthermore, the positive effect of debt restructuring on investment is more prominent in enterprises with weak strength of political connection. It is worth noting that as the strength of political connection increases from weak to strong, the positive impact of debt restructuring on investment turns to negative impact, which reflects the heterogeneity of connection strength on the relation between debt restructuring and investment. This paper provides new evidence for understanding the investment behaviour of debt restructuring enterprises and provides some policy implications for managers and decision-makers intending to improve the investment efficiency and enhance the sustainable development of enterprises from the perspective of political connections.
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Dzwigol, Henryk. "The concept of the system approach of the enterprise restructuring process." Virtual Economics 2, no. 4 (October 27, 2019): 46–70. http://dx.doi.org/10.34021/ve.2019.02.04(3).
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The article presents methodical requirements for the restructuring programme in the context of strategic management and the shaping of strategic forms. The author described the corporate restructuring model as a basis for transformations designed to achieve a knowledge-based organisation. The author attempted to address the following question: How should the knowledge management model be perceived in modern companies? Furthermore, the importance of organisational forms in the corporate restructuring process was underlined. The restructuring process should be carried out on the basis of specific restructuring objectives resulting from the scope of changes.
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Baldzhy, Maryna. "THE ISSUES ON RESTRUCTURING OF UKRAINIAN FOOD INDUSTRY ENTERPRISES." International Journal of New Economics and Social Sciences 1, no. 1 (June 30, 2015): 7–16. http://dx.doi.org/10.5604/01.3001.0010.4685.
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The questions of restructuring enterprise were considered, the necessity of changes in the state and structure was justified. The main forms of restructuring that can be used in the food industry were determined. The objectives of restructuring of the food industry enterprises in Ukaine, aimed at improving their competitiveness and economic efficiency, were argumented. Based on the evaluation of the effectiveness of enterprise restructuring programs the prospects of their functioning in the market environment were identified. The conclusions on the future activities of theUkrainian food industry enterprises have been ordered.
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Джамалдинова, М. Д., and Н. О. Курдюкова. "Modern aspects of restructuring russian enterprises." Voprosy regionalnoj ekonomiki, no. 1(42) (March 12, 2020): 30–38. http://dx.doi.org/10.21499/2078-4023-2020-42-1-30-38.
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В статье исследованы особенности процесса проведения реструктуризации предприятий, изучены и проанализированы пути использования реструктуризации для дальнейшего развития бизнеса. Особое внимание уделено исследованию основных задач, принципов и подходов проведения реструктуризации в РФ. Представлены преимущества и проблемы применения реструктуризации в стратегии развития предприятия. The article explores the features of the process of enterprise restructuring, studied and analyzed the ways of using restructuring for further business development. Particular attention is paid to the study of the main tasks, principles and approaches of restructuring in the Russian Federation. The advantages and problems of applying restructuring in the development strategy of the enterprise are presented.
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Wądołowska, Brygida, and Wojciech Zaborowski. "Enterprise restructuring - An effective solution or apparent institution? Analysis of contemporary legal regulations." Humanities & Social Sciences Reviews 9, no. 5 (September 21, 2021): 28–34. http://dx.doi.org/10.18510/hssr.2021.955.
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This article aims to provide a detailed discussion of the restructuring process and to indicate whether the said institution is achieving its statutory objectives. Four restructuring proceedings have been presented in the study that the entity undergoing restructuring may benefit from.
It is worth noting that the study included restructuring goals, differences between individual restructuring processes and the most important statutory definitions such as insolvency and restructuring capacity were described.
Considering the above, the article indicates the most important legal aspects of the discussed institution and problems related to the discussed issue.
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Kokorin, Ilya. "Third-Party Releases in Insolvency of Multinational Enterprise Groups." European Company and Financial Law Review 18, no. 1 (February 10, 2021): 107–40. http://dx.doi.org/10.1515/ecfr-2021-0002.
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Abstract Europe is experiencing the rise of restructuring proceedings, which has recently culminated in the adoption of the Restructuring Directive. While being a major achievement in harmonising substantive (pre)insolvency law in the EU, it lacks rules targeting restructuring of multinational enterprise groups. As a result, effectiveness of group reorganisations may be undermined. Nevertheless, some jurisdictions adopt innovative tools, facilitating group solutions. Among them – third-party releases. Such releases entail a total or partial discharge or amendment of claims against third parties, such as co-obligors, guarantors and collateral providers (typically, group members) in the insolvency or restructuring proceeding of the principal debtor.The diversity of approaches to third-party releases highlights their controversial nature. Such releases may frustrate legitimate expectations of creditors relying on cross-guarantees and other forms of cross-liability arrangements. Extending the effects of debt reorganisation to third parties in the absence of a separate insolvency proceeding may also run contrary to the longstanding views on corporate insolvency and entity shielding. This article argues that a single-entity-restructuring risks being short-sighted and that third-party releases are a matter of commercial necessity, synchronising legal responses with actual business models and better addressing the complexity of group interdependencies, realised through various intra-group liability arrangements.
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Ionov, V. I., and A. I. Koltunov. "Information support of the restructuring process of engineering enterprise." Izvestiya MGTU MAMI 5, no. 1 (January 10, 2011): 243–47. http://dx.doi.org/10.17816/2074-0530-70002.
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The restructuring process of engineering company involves multifaceted tasks that require a large amount of credible information. In compliance with this, the paper examines the development of the information system that might give an opportunity to provide informational support of the restructuring of engineering enterprise.
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Šīna, Inga, and Raitis Šīns. "RESTRUCTURE OF THE ENTERPRISE TO MICRO– ENTERPRISE TO USE TAX ADVANTAGES IN ORDER TO INCREASE PROFITABILITY, CASE STUDY." Latgale National Economy Research 1, no. 4 (June 23, 2012): 346. http://dx.doi.org/10.17770/lner2012vol1.4.1843.
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At 01/09/2010, Micro–enterprise Tax Law came into force in Latvia. The Law permits paying of single micro–enterprise tax at the rate of 9% from turnover. Innovations of the article – there have been insufficient studies on impact of this law. The aim of the paper is to discover whether legislation amendments permit the enterprise to reduce costs via network of branches by restructuring thereof into micro– enterprises. The study is based on a case study. Used methodology: study of financial documents, PEST analysis, interview, questionnaire. During the study, cost/revenue analysis has been conducted, two cash flows have been created. Results of the study are summed up in conclusions and demonstrate that restructuring of branches into micro– enterprises permits the companies to increase profitability and to decrease the costs (question of the study has been answered affirmatively), competitiveness of company is growing, and the restructuring must emphasize surveyor's motivation as well.
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Zhao, Liuyang. "Labor Disputes in China’s Local Government-Led Enterprise Restructuring: A Litigation Case Study,." Modern China 47, no. 1 (October 26, 2020): 26–48. http://dx.doi.org/10.1177/0097700420966784.
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In legal practice in contemporary China, courts usually distinguish between government-led enterprise restructuring 政府主导的企业改制 and independent enterprise restructuring 企业自主改制. Following contract logic, the courts believe that labor disputes related to government-led enterprise restructuring are not contract disputes—that is, they are not disputes between equal parties, which is required for civil litigation—and are therefore generally not accepted. Moreover, in actual legal practice, the scope of application of the principle of government-led restructuring has been expanded, with the courts adopting a very broad standard. In addition, a considerable number of cases are excluded on the grounds that the time limit imposed on arbitration has been exceeded. This in effect has replaced the older principles surrounding labor relations in enterprise restructuring led by local governments. The actual practice of the principle of government-led restructuring should be understood in the larger framework of multidimensional and complex relationships between local governments and the market. The use of local government power in conjunction with the logic of contract in effect enlarges the scope for setting aside the older principles of labor relations for the purpose of enhancing the market competitiveness of enterprises and promoting economic development. The result has been a marked degree of social injustice. The construction of labor laws should be rooted in actual conditions, and not overemphasize the formalism of contract logic and ignore the substantive logic of labor relations.
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Moskalenko, Viktoriia. "Basic aspects of restructuring of the enterprise personnel." Journal of Economics and Engineering 5, no. 1 (April 30, 2014): 31–37. http://dx.doi.org/10.7813/jee.2014/5-1/5.
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Dugel'nyi, A. P. "Enterprise Restructuring from the Standpoint of Strategic Tasks." Problems of Economic Transition 43, no. 10 (February 1, 2001): 28–41. http://dx.doi.org/10.2753/pet1061-1991431028.
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TOKUNAGA, Masahiro. "Enterprise Restructuring in the Context of Urban Transition." Russian and East European Studies, no. 32 (2003): 105–18. http://dx.doi.org/10.5823/jarees.2003.105.
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Tseo, George K. Y. "Chinese Economic Restructuring: Enterprise Development through Employee Ownership." Economic and Industrial Democracy 17, no. 2 (May 1996): 243–79. http://dx.doi.org/10.1177/0143831x96172005.
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Kim, Byung-Yeon, and Jieun Park. "Financial Systems and Enterprise Restructuring in Eastern Europe." Eastern European Economics 54, no. 6 (September 6, 2016): 503–20. http://dx.doi.org/10.1080/00128775.2016.1215229.
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Narbone, Luigi. "Privatisation and enterprise restructuring in the Russian Federation." International Spectator 31, no. 3 (July 1996): 13–22. http://dx.doi.org/10.1080/03932729608456744.
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Fries, Steven M., and Timothy D. Lane. "Financial and Enterprise Restructuring in Emerging Market Economies." IMF Working Papers 94, no. 34 (1994): i. http://dx.doi.org/10.5089/9781451978858.001.
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Schnitzer, Monika. "Enterprise restructuring and bank competition in transition economies." Economics of Transition 7, no. 1 (March 1999): 133–55. http://dx.doi.org/10.1111/1468-0351.00007.
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Apostolov, Mico. "Governance and Enterprise Restructuring: The Case of Macedonia." Transition Studies Review 18, no. 2 (November 22, 2011): 299–309. http://dx.doi.org/10.1007/s11300-011-0203-5.
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Su Dinh, Thanh, Nguyen Doan Vu, and Trung Bui Thanh. "Corporate Restructuring in Vietnam: An Analysis of Asset Restructuring." Journal of Asian Business and Economic Studies 23, no. 03 (July 1, 2016): 02–35. http://dx.doi.org/10.24311/jabes/2016.23.3.04.
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Corporate restructuring is likely to be approached from various aspects. In this paper and in the context of Vietnam, it is inspected via asset restructuring. Using both financial and non-financial indicators of 226 listed firms on Hochiminh Stock Exchange (HOSE) and Hanoi Stock Exchange (HNX) over the 2007–2014 period, this paper investigates: (i) the determinants of corporate restructuring in Vietnam; and (ii) the effects of corporate restructuring on corporate performance. Empirical findings show that: (i) the fact that an enterprise conducts its restructuring plans primarily depends on its performance, and ownership concentration has a negative impact on the process of restructuring; (ii) a board with the presence of outside directors has positive and statistically significant effects on the performance of the firm, and foreign holdings lead to subsequent performance improvement.
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Lajovic, Dragan. "Corporate growth factors with a review of our environment." Privredna izgradnja 46, no. 1-2 (2003): 123–28. http://dx.doi.org/10.2298/priz0302123l.
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Traditional enterprise in transition is, by its organizational and functional structure, as well as by its fundamental function, inadequate for the market economy. It is clumsy, it has hierarchical organization, it is slowly and inert not reacting to the impulses from the environment. Therefore, it is necessary to create completely new contents, based on the assumption that enterprise can be revitalized-restructured. The focus of goals in the enterprises is changing in time and it moves from one problem to another. By restructuring enterprise has to accomplish its integral transformation. Restructuring has to, according to our opinion, include: 1. Change of ownership structure; 2. creation of new-concept of leadership and management; 3. restructuring of assortment; 4. changes in organization; 5. create of new concept of business functions. In all that 9 factors of business development play the most important role.
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Broadman, Harry G., and Francesca Recanatini. "Is Russia restructuring?" Corporate Ownership and Control 1, no. 1 (2003): 50–71. http://dx.doi.org/10.22495/cocv1i1p10.
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This paper explores the dynamics of enterprise restructuring in Russia since 1996 using newly available firm-level data from official sources and from original individual business case studies carried out in Russia’s regions. We assess empirically how the patterns of job creation and destruction are related to various aspects of enterprise restructuring across firms in different sectors and regions, and with different ownership forms, size, vintage, and performance characteristics. Our case-study evidence - based on more than 70 business visits - suggests that job destruction has taken place, but in some sectors and regions only to a limited degree, in large part due to institutional and incentive constraints and a still-widespread “socialist” corporate culture. The case studies also indicate job creation has materialized, particularly in sectors where the import-substitution effects of the 1998 ruble devaluation have been most pronounced. This case-study evidence is complemented by analysis of data provided by Goskomstat covering approximately 128,000 enterprises across 24 industrial sectors in all of the country’s 89 regions for 1996-1999. These data suggest that in the aggregate the typical Russian firm has experienced only modest downsizing - about 12 percent - in terms of number of employees. We also find evidence of particular sectors where there has been new entry by smaller firms and exit by larger, mature businesses. Except for a lull in 1998, there has been a steady increase in the rate of job creation; at the same time, job destruction rates have been declining, with a substantial drop in the 1998-99 periods. Employment shifts between regions have steadily increased over time, but across sectors and firm ownership types, employment shifts are “u-shaped”, with a pronounced decline in 1998. Firm size is found to be statistically correlated positively) with profitability; yet restructuring through changes in net employment growth does not appear to be related statistically to profitability. This suggests that there are efficiency improvements needed in Russia’s restructuring process.
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Kotelska, Jolanta. "THE PREMISES OF COAL INDUSTRY RESTRUCTURING PROCESS IN POLAND." Zeszyty Naukowe Wyższej Szkoły Humanitas Zarządzanie 19, no. 1 (March 30, 2018): 207–29. http://dx.doi.org/10.5604/01.3001.0012.0531.
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Many years of coal industry restructuring in Poland gave no expected results. Many countries in the world face problems with the coal industry. Due to its complexity and different conditions there is not known the universal standard of restructuration standard which could be implemented into Polish conditions and needs. There are many analysis on enterprise restructuring, also in coal mine industry. The following analysis tries to find the premises of success of restructuring processes of coal mine industry in Poland. To find the answer the analysis of problem was done on the basis of domestic and foreign publications. Conclusions of the text are the results of observation done by the author with the observation of the mentioned population from inside. The consideration was initiated with introduction to the enterprise restructuring process description. Next the essence, meaning and goals of the process were mentioned with determinants and conditions having influence to the restructuring process together with premises of the coal industry restructuring process in Poland. The final conclusions concern the discussed scientific problem.
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Titova, E. S. "Practical implications of innovative corporate restructuring." Vegetable crops of Russia, no. 1 (March 30, 2012): 62–63. http://dx.doi.org/10.18619/2072-9146-2012-1-62-63.
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The importance of scientific efforts and practical implementation of innovative researches and technologies into unstable market environment are underlined in the article. This special model could improve efficiency of innovative enterprise management having specific targets of development and practice determinations.
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Begović, Sanja Vlaović, Mirela Momčilović, and Stevan Tomašević. "The Enterprise Creditworthiness Evaluation – By Z” Score Model." Economic Themes 52, no. 2 (June 1, 2014): 184–96. http://dx.doi.org/10.1515/ethemes-2014-0013.
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Abstract There are numerous models which are under contemporary business conditions used for assessment of creditworthiness and forecasting bankruptcy possibility of a enterprise. One of these models is Altman Z – score model. On the basis of adjustments of original model for possibility of bankruptcy forecasting, which is applicable just to enterprises with whose stocks are traded on organized market, a modified model was developed which is applicable only to enterprises with whose stocks are not traded on organized market. Altman made additional modification of model and formulated Z’’ score model that is applied on production and unproductive enterprises, as well as on enterprises that operate in developing countries. Stated models separate financially successful enterprises from those that are threatened by bankruptcy proceedings. On the basis of Z’’ score model Altman classified credit rating of enterprises and with it developed Z’’ score adjusted model. In this paper, we conducted the analyses of credit rating for 33 enterprises in restructuring and 90 enterprises that are not in restructuring, by using Z’’ score adjusted model, as well as determined possibility of occurrence of bankruptcy of enterprise on the basis of Z’ score model. Authors concluded that approximately 57% of analyzed enterprises in restructuring have the lowest credit rating, while possibility of occurrence of bankruptcy in the next two years for those enterprises is more than 90%. On the other hand, approximately 60% of enterprises which are not in restructuring have high credit rating and operate in safe zone, while approximately 6% of enterprises have the lowest credit rating with high possibility of occurrence of bankruptcy in the next two years.
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Cherniavska, Iryna. "MECHANISMS OF INFLUENCE OF ORGANIZATIONAL AND ADMINISTRATIVE TRANSFORMATION ON THE DEVELOPMENT OF INDUSTRIAL ENTERPRISES." Economic Analysis, no. 28(2) (2018): 200–212. http://dx.doi.org/10.35774/econa2018.02.200.
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The scientific provisions on the use of transformation procedures in the organizational and managerial field of the enterprise activity are sufficiently substantiated in the scientific works of well-known foreign and domestic scientists. In addition to transformational models that offer a specific sequence of stages, general approaches to organizational transformations are recently developed in the theory and practice. These approaches describe the philosophy of the process. However, the theoretical basis for the emergence of the necessity and the prospect of organizational transformations, in particular in the form of restructuring, has certain gaps and inaccuracies, which often lead to a different interpretation of the necessity and procedural security of this process in the activities of industrial enterprises. The conducted analysis of theoretical and methodical aspects of transformation processes in the organizational and managerial sphere of activity of industrial enterprises allowed identifying and justifying the criteria for the success of organizational transformations and the specific sequence of stages of their implementation. The definition of content of the category "enterprise restructuring" is proposed in the context of organizational transformation. The scheme of the process of implementation of the corresponding organizational and managerial transformations, which involves the use of new tools and methods of organization of activity and enterprise management system in order to ensure optimization of economic activity, is constructed. The scientific novelty of the results is that the methodological provisions, which are in the article, allow us to determine possible directions and types of structural transformations; to choose the controlled factors that influence the size of the market value of the enterprise by types of transformations in the organizational and managerial sphere; to present the structural model of planning and implementation of enterprise restructuring, which is consistent with the idea of the process of structural changes of the enterprise in relation to adaptation to the external environment and application of the latest management concepts; to present a structural scheme for evaluating the effectiveness of the restructuring, aimed at the development of the enterprise. The developed approaches to determining the need for transformation processes of organizational and managerial transformation and a scheme for evaluating the effectiveness of restructuring can be used by specialists to make grounded decisions aimed at the development of industrial enterprises.