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Original scientific paper

FROM THE SOCIALIST CORPORATION TOWARDS THE RENTIER CORPORATION: OWNERSHIP AND MANAGEMENT OF COMPANIES IN THE 1990S

Domagoj Račić

Fulltext: croatian, pdf (385 KB) pages 117-143 downloads: 340* cite
APA 6th Edition
Račić, D. (2017). OD SOCIJALISTIČKE PREMA RENTIJERSKOJ KORPORACIJI: VLASNIŠTVO I UPRAVLJANJE PODUZEĆIMA U DEVEDESETIMA. Ekonomski pregled, 68 (2), 117-143. Retrieved from https://hrcak.srce.hr/182105
MLA 8th Edition
Račić, Domagoj. "OD SOCIJALISTIČKE PREMA RENTIJERSKOJ KORPORACIJI: VLASNIŠTVO I UPRAVLJANJE PODUZEĆIMA U DEVEDESETIMA." Ekonomski pregled, vol. 68, no. 2, 2017, pp. 117-143. https://hrcak.srce.hr/182105. Accessed 1 Dec. 2020.
Chicago 17th Edition
Račić, Domagoj. "OD SOCIJALISTIČKE PREMA RENTIJERSKOJ KORPORACIJI: VLASNIŠTVO I UPRAVLJANJE PODUZEĆIMA U DEVEDESETIMA." Ekonomski pregled 68, no. 2 (2017): 117-143. https://hrcak.srce.hr/182105
Harvard
Račić, D. (2017). 'OD SOCIJALISTIČKE PREMA RENTIJERSKOJ KORPORACIJI: VLASNIŠTVO I UPRAVLJANJE PODUZEĆIMA U DEVEDESETIMA', Ekonomski pregled, 68(2), pp. 117-143. Available at: https://hrcak.srce.hr/182105 (Accessed 01 December 2020)
Vancouver
Račić D. OD SOCIJALISTIČKE PREMA RENTIJERSKOJ KORPORACIJI: VLASNIŠTVO I UPRAVLJANJE PODUZEĆIMA U DEVEDESETIMA. Ekonomski pregled [Internet]. 2017 [cited 2020 December 01];68(2):117-143. Available from: https://hrcak.srce.hr/182105
IEEE
D. Račić, "OD SOCIJALISTIČKE PREMA RENTIJERSKOJ KORPORACIJI: VLASNIŠTVO I UPRAVLJANJE PODUZEĆIMA U DEVEDESETIMA", Ekonomski pregled, vol.68, no. 2, pp. 117-143, 2017. [Online]. Available: https://hrcak.srce.hr/182105. [Accessed: 01 December 2020]

Abstracts
The paper analyses the changes in views of the firm, as the basic organizational form of the market economy, as a basis for understanding the transition in Croatia during the 1990s. The analytical framework focuses on the issues of ownership, management and relations among key stakeholders, identifying the following basic models of the fi rm: SME, corporation, empty shell and system integrator. Key features of socialist corporations and their behaviour during the crisis of the 1980s are subsequently analysed. During the 1990s, the former socialist corporations mostly follow two patterns. Some are disintegrated into ‘empty shells’; turnover, assets and the number of employees are reduced, which is often followed by bankruptcy. Other former socialist corporations usually become ‘rentier corporations’ in which company owners follow a strategy based on defensive restructuring and exploitation of existing resources with reduced risk and competition and with limited investments into business development. Rentier behaviour included illegal actions, opportunistic business models, abuse of market power and inadequate consumer knowledge and limiting investments into new products and new markets. Due to insufficient resources and external conditions, alternative business associated with the Western varieties of capitalism were not feasible. Since rents are protected by entry barriers which block competition, the political elite often plays a complementary role in the promotion and protection of the rent-seeking business models. Its influence in late socialism and transition has been reflected in the management of privatization, institution-building, control of the financial sector and public enterprises, as well as in clientelism.

Keywords
views of the firm; transition; self-management; privatisation; economic rent

Hrčak ID: 182105

URI
https://hrcak.srce.hr/182105

[croatian]

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