The Restructuring of Large Firms in Slovakia 1758.
Rapid privatization is an important determinant of successful restructuring.
The method of privatization and the type of owner appear to play only a minor role. Evaluating the restructuring of large enterprises in transition economies is difficult because it is only one of many economic changes. Such evaluation is nevertheless essential for designing reform policies. Djankov and Pohl examine 21 case studies of Slovak firms based on detailed financial information for 1991-96, and interviews with top management. They found that the majority of large Slovak firms successfully restructured without the help of foreign investors or government restructuring programs.