Restructuring as a signal: a simple formalization
Colombo, E. (1997) Restructuring as a signal: a simple formalization. Southampton, UK, University of Southampton (Discussion Papers in Economics and Econometrics 9714).
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Description/Abstract
Several studies stressed that contrary to the initial expectations, state-owned firms at the beginning of the transition, undertook painful measures to adjust to the new economic environment. This paper investigates this behaviour in a simple game theoretic framework. It is argued that the massive amount of lay-offs created by state-owned firms during the initial phase of the transition can be interpreted as a signal directed to the banking sector in order to obtain more favourable financing conditions for the subsequent process of restructuring.
| Item Type: | Monograph (Discussion Paper) |
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| Related URLs: | |
| Subjects: | H Social Sciences > HB Economic Theory H Social Sciences > HD Industries. Land use. Labor |
| Divisions: | University Structure - Pre August 2011 > School of Social Sciences > Economics |
| Item ID: | 33188 |
| Date Deposited: | 25 Jan 2008 |
| Last Modified: | 02 Mar 2012 13:28 |
| Contributors: | Colombo, E. (Author) |
| Date: | January 1997 |
| Status: | Unpublished |
| Publisher: | University of Southampton |
| URI: | http://eprints.soton.ac.uk/id/eprint/33188 |
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