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).


Full text not available from this repository.


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)
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
ePrint ID: 33188
Date Deposited: 25 Jan 2008
Last Modified: 27 Mar 2014 18:20

Actions (login required)

View Item View Item