International handbook on privatization

Privatization has dominated industrial restructuring programs since the 1980s and continues to do so. This authoritative and accessible Handbook considers all aspects of this key issue, including the theory of privatization; privatization in transition, developed and developing economics; as well the economic regulation of privatized industries. The studies in this volume, introduced by international experts in the field 'presents evidence of the scope and effects of privatization, and consequently provide the basis for improving both policy formulation and implementation. However, they also emphasize that privatization is not an end in itself. It is argued that for privatization to be worthwhile and for lasting economic efficiency gains to be achieved, supporting reforms must accompany most privatization programs, particularly in the arenas of corporate governance and capital markets, product market competition, and state regulatory processes. Furthermore, several contributions demonstrate that the degree to which ownership and market liberalization can be usefully separated, and whether privatization without either competition or effective regulation is worthwhile, remain controversial issues. Furnishing the reader with a comprehensive and lively discussion of privatization in theory and practice, this Handbook will be the essential source of information for researchers in the field, and for a wide-ranging audience including public policy makers and specialists, development experts and agencies, international banks, public policy and regulation economists, and management consultants.

SMEs in a globalised world:survival and growth strategies on Europe's geographical periphery

This insightful book shows how small and medium enterprises (SMEs) from some of the traditionally less dynamic peripheral economies of the 'old' EU - namely Ireland, Italy, Portugal and Spain - have responded to the twin challenges of globalisation and industrial restructuring. Through a series of unique case studies the contributing authors discuss how these economies, and in particular the SME sector, can be transformed. The book begins by examining the key drivers of the globally competitive SME sector in the EU, before moving on to explore the relationship between multinational enterprises (MNEs), SMEs and industrial development. The authors investigate important policy implications and provide lessons for SME development and growth. With empirical and theoretical contributions on SMEs in both the manufacturing and the services sectors, this essential book will be invaluable for researchers and policymakers in small business economics and management. Postgraduate students of entrepreneurship, business economics, industrial economics and European studies will appreciate this unique set of insights.

Changing career models and capacity for innovation in professional services

A number of professional sectors have recently moved away from their longstanding career model of up-or-out promotion and embraced innovative alternatives. Professional labor is a critical resource in professional service firms. Therefore, changes to these internal labor markets are likely to trigger other innovations, for example in knowledge management, incentive schemes and team composition. In this chapter we look at how new career models affect the core organizing model of professional firms and, in turn, their capacity for and processes of innovation. We consider how professional firms link the development of human capital and the division of professional labor to distinctive demands for innovation and how novel career systems help them respond to these demands.

Institutional entrepreneurship:a literature review and analysis of the maturing consulting field

With few exceptions (e.g. Fincham & Clark, 2002; Lounsbury, 2002, 2007; Montgomery & Oliver, 2007), we know little about how emerging professions, such as management consulting, professionalize and establish their services as a taken-for-granted element of social life. This is surprising given that professionals have long been recognized as “institutional agents” (DiMaggio & Powell, 1983; Scott, 2008) (see Chapter 17) and professionalization projects have been closely associated with institutionalization (DiMaggio, 1991). Therefore, in this chapter we take a closer look at a specific type of entrepreneurship in PSFs; drawing on the concept of “institutional entrepreneurship” (DiMaggio, 1988; Garud, Hardy, & Maguire, 2007; Hardy & Maguire, 2008) we describe some generic strategies by which proto-professions can enhance their “institutional capital” (Oliver, 1997), that is, their capacity to extract institutionally contingent resources such as legitimacy, reputation, or client relationships from their environment.

Russia

Ruta Aidis, Julia Korosteleva and Tomasz Mickiewicz 1. Introduction to Russia Russia is the world’s largest country, a nuclear superpower with unsurpassed energy resources. It is also a country which finds itself at the crossroads of possible development paths. Market-oriented mechanisms have been introduced but Soviet era laws remain on the books. Corruption has become a way of life and freedom of the press has been gradually eliminated in the early 2000s. Within this backdrop, private entrepreneurship has emerged, albeit in a distorted way. As the heart of the Soviet empire, Russia had tremendous control of enormous amounts of natural resources and human capital. Yet, 20 years ago, in the late 1980s, it was a country where entrepreneurship was marginal, the economy was stagnant and the ruling communist hierarchy had no clear formula for solving the deepening crisis. Unfortunately the reforms characterizing Russia’s attempts at rebuilding statehood after the collapse of the Soviet Union in the 1990s, first under Mikhail Gorbachev and then Boris Y’eltsin, were inconsistent and did not foster macroeconomic stabilization. However, since 2000, under Vladimir Putin’s leadership, macroeconomic stabilization as well as institutional stability has been achieved. In addition, an unprecedented increase in the price and demand for oil and gas resources has resulted in a rapid growth of Russia’s gross domestic product (GDP). Russia now has a large private sector, though not without its limitations. At first glance, ‘de jure’ regulations often seem reasonable, yet it is the selective and arbitrary manner by which they are...