Enterprise Sector Restructuring in a Small Economy: The Case of Slovenia
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The enterprise sector in Slovenia entered the process of economic transition with the legacy of a specific quasi-market socialist economic system based on self-management and social ownership. Slovenia was, in a certain sense, the manufacturing platform of the former Yugoslavia. This resulted in a relatively broad and sophisticated industrial structure, different to that, which would have developed in a small open economy with an export-oriented development concept. Disintegration of the former Yugoslavia led to the loss of easy and well-protected markets. Slovenian companies were forced to turn to export markets. Accommodating to the pressures of more competitive markets has, as a rule, been achieved by short-term rationalisation measures (predominantly by reducing costs via lay-offs and an intensive process of early retirement, tolerated by the state) and only much less through long-term restructuring.
KeywordsCorporate Governance Foreign Company Enterprise Sector Small Economy Ownership Category
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