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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).

Record type: Monograph (Discussion Paper)

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.

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Published date: January 1997

Identifiers

Local EPrints ID: 33188
URI: http://eprints.soton.ac.uk/id/eprint/33188
PURE UUID: 279c648b-359f-48ee-8798-424212fdd1c8

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Date deposited: 25 Jan 2008
Last modified: 17 Jul 2017 15:53

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Contributors

Author: E. Colombo

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