Citation

Discussion Paper Details

Please find the details for DP898 in an easy to copy and paste format below:

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Title: On the Role of Banks in Enterprise Restructuring: The Polish Example

Author(s): Sweder van Wijnbergen

Publication Date: February 1994

Keyword(s): Commercial Bank Reform, Corporate Governance, Eastern Europe and Financial Sector Regulation

Programme Area(s): Applied Macroeconomics

Abstract: Governments throughout Eastern Europe have been singularly unsuccessful in dealing with large loss-making SOEs. A more promising approach would create an incentive framework and legal environment where the SOE's major non-government creditor can take the lead in initiating restructuring and the design of a new, viable capital structure. Such a lead bank is much more likely to gain access to the inside knowledge that gives the firm its surplus value as a going concern. The details of such an environment are laid out using the recent Polish attempt to launch a wholesale cleanup of the loss-making SOEs along lines promoted in this paper.

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Bibliographic Reference

van Wijnbergen, S. 1994. 'On the Role of Banks in Enterprise Restructuring: The Polish Example'. London, Centre for Economic Policy Research. https://cepr.org/active/publications/discussion_papers/dp.php?dpno=898