Type of research: basic Duration from: 01/01/91. to 12/31/94. Papers on project (total): 57
Institution name: Ekonomski institut, Zagreb (2) Department/Institute: The Center for the Research of Economics, Organization and Management in the Firm Address: Trg J. F. Kennedy 7, 41000 Zagreb City: 10000 - Zagreb, Croatia
Phone: 385 (0)41/235-700
Fax: 385 (0)41/210-467
Summary: One of the key elements of the social and economic reform
in Croatia is a transition of the social ownership into other forms. This
process has very broad effects at the national level, as well as at the
firm's level. Within the framework of this research project different
economic and financial effects, appearing as a changed break-down of the
firm's assets and liabilities, as well as the changes of accounting system
and the firm's legal status were analized. Economic and financial aspects
of the firm's transition process are a new research area in Croatia. Hence,
the foreign expertise might be used as a starting point, which should be
adapted to the features of the local firms. This is why the research has
been carried out to a large extent as the case studies in order to test the
theoretical models in real life and to improve them in accordance with a
social and economic development of Croatia.
Keywords: ownership, privatisation, restructuring, market of firms, evaluation of a firm, business assets, business liabilities, accounting, fiscal, monetary
Research goals: The concept of social ownership the Croatian
economy and society was based on resulted in a very low efficiency since
the risk of any economic action was socialized. Therefore, the
privatization which means the individualization of business and other
decision risk appears to be the solution for the upgrading the overall
efficiency. The privatization is the process which is supposed to be
resolved in the long run only. The starting point is the social ownership.
Different forms of private ownership are desired results of this process.
It means, that the desired results are known, but preconditions, methods
and practical procedures of its implementation are to be investigated.
The goal of the research is to investigate economic and financial aspects
of microeconomic, macroeconomic and legal components of the privatization
process. Since the model of privatization was legally prescribed the
institutional and macroeconomic component could be taken as given only.
Some individual papers discussed alternative concept and way of actions,
but there were no practical results. Therefore, the research was
concentrated more on microeconomic component of the entire privatization
process. The methodology for the valuation of firm is prepared, several
firm's valuations are made and empirical evidences collected. There
was a close cooperation with The Croatian Fund for privatization in the
past period. This fact opens the possibility of using very large and
precize data base for empirical research The Fund disposes with. This
empirical research is to be finalized in a separate study at the end of
COOPERATION - PROJECTS
Name of project
: 5-02-015 "Financiranje poslovanja i razvoja
poduzeća u tržišnoj privredi" Name of institution: Ekonomski institut, Zagreb City: 10000 - Zagreb, Croatia Other information about the project.