scholarly journals SWOT analysis & privatization in Croatia

2006 ◽  
Vol 51 (168) ◽  
pp. 121-136 ◽  
Author(s):  
Ivo Druzic ◽  
Tomislav Gel
Keyword(s):  
Swot Analysis ◽  
Limited Liability ◽  
Transition Process ◽  
Legal Framework ◽  
Economic Consequences ◽  
Macro Level ◽  
Public Enterprises ◽  
Tax Havens ◽  
Holding Companies ◽  
Privatization Process

Legal framework for privatization in Croatia was based on two key laws: the Transformation Act of 1991, and the Privatization Act of 1993, amended in 1996. Early start of privatization process in 1990s in Croatia was marked by the transformation of socially-owned companies into stock holding companies or limited liability companies. The first step (1991-1993) of this process of almost 2700 companies which entered privatization was their evaluation and transformation into private ownership entities. The second step (1994- 1997) consisted of privatization of CPF portfolio. The portfolios change constantly, not only as a result of privatization but also because companies themselves change, as does their position in the market. The third step (1998) in the privatization process was voucher privatization. Privatization of large infrastructure and utility companies designated as public enterprises began in 1999 (Croatian Telecom) and INA in 2002 (public enterprises are privatized on the basis of separate laws). Attempts to discuss privatization in Croatia in terms of SWOT analysis have been motivated by the stark difference among Croatian professional economists in an appraisal of Croatia's performance during the transition process in general and of the privatization process in particular. Therefore we considered the elements of SWOT analysis to be an acceptable way to delve into the confusing world of bickering arguments on the state and perspective of the Croatia's privatization process. In this paper we have tried to provide an impartial approach by employing two criteria i.e. strength and weaknesses in judging the events and results of the privatization process in Croatia. Strength of the overall privatization process can be mostly ascribed to the institutional swiftness on micro as well as on macro level. On the micro level 80% of the companies were formally privatized in the first two years despite unfavorable external conditions comprising the economic consequences of war. On the macro level it took approximately three years to restructure and downsize CPF majority ownership in 2700 companies to majority ownership in just 70 companies. Overall weakness of the restructuring process is concentrated in a painfully slow emergence of sound business activity in market environment. The economic inefficiency of this model is reflected in the substitution of modern entrepreneurial capitalism, which was hoped for with retrograde rent seeking capitalism, typical of early capitalism in its transition from a feudal to an industrial environment two centuries ago. Instead of efficiency and development, it is characterized by the drain of liquid capital through inflated debts, false reserves and falsified claims and the tunneling of constant capital through "soft" loans into tax havens outside the country. Therefore, the solution is not to deal with the consequences, which are evident in various affairs that are treated as individual deviations of the more or less good model of privatization. The problem lies in the model itself.

Еnforcement of Property Rights and Conractual Obligations

2003 ◽  
pp. 83-100 ◽  
Author(s):  
A. Radygin ◽  
R. Entov
Keyword(s):  
Property Rights ◽  
Legal Framework ◽  
Economic Consequences ◽  
Theoretical Approaches ◽  
Contractual Obligations ◽  
Regional Authorities ◽  
Practical Recommendations

The paper deals with theoretical approaches to the problems of property rights and contractual obligations and with analysis of economic consequences of the imperfect enforcement system. In particular, the authors consider Russian experience in the sphere of corporate conflicts. Legal and practical recommendations related to the improvement of legal framework, judiciary reform, executory process and different federal and regional authorities are also presented.

Freedom to Define Membership in a Mutual Insurance Company

2021 ◽  
Vol 3 (108) ◽  
pp. 26-41
Author(s):  
Beata Mrozowska - Bartkiewicz
Keyword(s):  
Limited Liability ◽  
Fundamental Principle ◽  
Legal Framework ◽  
Business Activity ◽  
Insurance Company ◽  
Wide Range ◽  
Systemic Model ◽  
Mutual Insurance ◽  
Legal Forms

A mutual insurance society is one of the basic forms of conducting insurance activity. It is characterized by a very wide range of options which its founders and subsequently entitled members have in order to choose the organizational and systemic model of operation, to change it in the course of business, to define the concept of membership, to create various categories of members and provide them with different rights and duties, to determine the powers of statutory bodies, and, above all, to apply the method of mutuality. The Insurance and Reinsurance Activity Act regulates the basic legal framework of mutual companies, while referring quite a number of issues to the Polish Commercial Partnerships and Companies Code. This does not alter the fundamental principle on which the company's activity is based, namely that its articles of association play an extremely important role, which is much greater than in the case of public limited liability companies, and that members of a mutual insurance society enjoy considerable freedom to conduct business and categorize its members, which is unparalleled for other legal forms of business activity.

scholarly journals February 2001 Crisis in Turkey: Causes and Consequences

2001 ◽  
Vol 40 (4II) ◽  
pp. 467-486 ◽  
Author(s):  
Levent Koch ◽  
M A Chaudhry
Keyword(s):  
Foreign Direct Investment ◽  
Financial Crises ◽  
Commercial Banks ◽  
Direct Investment ◽  
State Intervention ◽  
Critical Examination ◽  
Public Enterprises ◽  
Economic Crises ◽  
Institutional Reforms ◽  
Holding Companies

Turkey has suffered from different economic crises since 1990. However, the February 2001 crisis has been unprecedented in intensity and repercussions. Although many factors, both internal and external, may have contributed to their occurrences, the former owing to their inducing corruption and waste in the economy, seem to have fomented them more than the latter. Although Turkey has been getting transformed into a market economy since 1980, government intervention is still pervasive in its economy. Government still controls Central Bank, owns commercial banks, and operates public enterprises. It has liberalised market, currency, foreign trade and foreign direct investment (FDI), but still operates sectors like energy, sugar and tobacco. Such a level of state intervention had adverse implications for corruption, waste, effective reforms, etc. in the country. Further, since the transformation of the economy could not be accompanied by concomitant structural, legal and institutional reforms in 1990s, resources have constantly been misused over the years. Further still, groups owning bank, media and holding companies jointly have notoriously precipitated domestic financial crisis by stashing away the home deposits in their offshore branches. Finally, supporting agriculture and industry with politically-motivated credit for voting purposes has constantly been aggravating the drain of resources and thereby financial crises of the country. This paper attempts a critical examination of how such factors may have contributed to the occurrence and accentuation of economic crises suffered by Turkey over the last decade.

scholarly journals Change in use of agricultural land for non-agricultural purposes – procedures, aspects, problems

2019 ◽  
Vol 11 (3) ◽  
Author(s):  
V. Velkovski
Keyword(s):  
Agricultural Sector ◽  
Swot Analysis ◽  
Agricultural Land ◽  
Legal Framework ◽  
Spatial Development ◽  
Land Conservation ◽  
Legal Analysis ◽  
Investment Projects ◽  
Literary Sources ◽  
Investment Intentions

Abstract. The change of the designation of agricultural land for non-agricultural purposes is related to investment intentions for realization of developmental events on the agricultural territories, which are mainly of a constructional nature. In a legal and technological aspect, this process is regulated in Chapter Five of the Agricultural Land Conservation Act (1996) and Chapter Five of the Rules for Implementation of Agricultural Land Conservation Act (1996). Other specific legal details in this respect are subject to regulation in a number of other legal acts: Spatial Development Act (2001), Black Sea Coast Spatial Development Act (2008), Cadastre and Land Register Act (2000), Ordinance No. 7/22.12.2003 on rules and norms for the construction of the different types of territories and development zones, Ordinance No. 8/14.06.2001 on the volume and content of development plans, Ordinance No. 4/21.05.2001 on the scope and content of investment projects, etc. The aim of the study is to justify the necessity to change land use on a reasonable scale as a necessary instrument in the agricultural sector, by monitoring and analyzing the current legal framework and some literary sources. In this connection, the methodology of the legal analysis and the methodology of the SWOT analysis are used. The expected results are oriented towards the formulation of some proposals concerning the improvement of the mechanisms for the change of the purpose of the agricultural land.

scholarly journals Socio-economic consequences of land reform in Ukraine

2020 ◽  
Vol 11 (4) ◽  
Author(s):  
O. Zhylin ◽  
Keyword(s):  
Land Use ◽  
Land Reform ◽  
Agricultural Land ◽  
Critical Role ◽  
Legal Framework ◽  
Practical Aspect ◽  
Economic Consequences ◽  
Real Economy ◽  
Environmental Consequences ◽  
Legal Forms

The article examines theoretical foundations of socio-economic consequences of land reform in Ukraine. Prospects and possibilities for opening of the market of agricultural land in Ukraine through foreign experience in land reform are analyzed. It is determined that threre are a lot of agricultural enterprises, which use agricultural land mainly for maximum self-enrichment, while neglecting norms of rational land use. It is determined that attracted capital will be played the critical role in the process of agrarian reform, which within the legal framework of the mechanism of circulation of agricultural land will be used by all participants, namely the state and owners / sellers with buyers / tenants. The effectiveness of implementation and functioning of the land market will be carried out on the basis of the established scientific base, the operating activity of state bodies and taking into account the interests of market participants. The level of centralization and decentralization of land potential management is taken significant value in foreign countries, representative bodies of territorial communities have specific powers for land use, organizational and legal forms of land use and forms of ownership of land resources are exceptional. It is determined that results of land reform are assessed by identifying the social, economic and environmental consequences, which are considered in physical and qualitative terms. The consequences of land reform are manifested in real economy and have the long-term impact not only on it but also on life of society in general. Totally, this will concern not only the regulatory implementation of the rules for organizing of the market of agricultural land, but also the practical aspect of ensuring the implementation of land reform.

scholarly journals Corporate Governance of Family Businesses in Croatia

2021 ◽  
Vol 2 (1) ◽  
pp. 9-27
Author(s):  
Mihaela Braut Filipović
Keyword(s):  
Corporate Governance ◽  
Family Business ◽  
Limited Liability ◽  
Comparative Law ◽  
Legal Framework ◽  
Family Businesses ◽  
Family Farms ◽  
Socio Economic Development ◽  
Legal Forms ◽  
Successful Transfer

The importance of family businesses in the Croatian economy is well known. In this respect, Croatia is part of the larger picture in which family businesses are considered of fundamental importance to the European Union’s economy. The most specific feature that sets Croatian family businesses apart is that they are all relatively young, as they were mostly established in the 1990s. This is due to the socio-economic development of Croatia as a country that was part of the former Yugoslavia. In this regard, although the traditions of certain crafts and products are significantly older, the modern legal vehicles through which such business is conducted, that is, Croatian companies, are only around thirty years old. This fact contributes to the hypothesis that governance issues related to family businesses are an underdeveloped legal area. However, the need to address the specific needs of Croatian businesses is on the rise, as a significant number of the founders are now retiring, and the issue of successful transfer of these businesses has never been more important. The goal of this article is to question whether available legal instruments for enhancing the governance of family businesses from comparative law and practice such as family constitutions and family councils can be applied in Croatian practice as well. To this end, this study analyses the most significant legal forms in which a family business can be established in Croatia: crafts, family farms, and all types of commercial companies (with an emphasis on limited liability and joint-stock companies). Analysis of the Croatian legal framework from the perspective of family businesses will contribute to the comparative discussion regarding the specific legal needs and challenges of such businesses.

scholarly journals EL IMPACTO DEL ENTORNO MACROECONÓMICO EN EL DESARROLLO DE LA MIPYME: EL CASO DE MÉXICO

2015 ◽  
Vol 21 (59) ◽  
pp. 53-66
Author(s):  
María Luisa Saavedra García ◽  
Miriam Edith Saavedra García
Keyword(s):  
Environmental Variables ◽  
Business Performance ◽  
Swot Analysis ◽  
Macro Level ◽  
Macroeconomic Environment

RESUMEN: El objetivo de este trabajo consiste en determinar de qué manera el entornomacroeconómico, enmarcado bajo el concepto del nivel macro de competitividad sistémica, influye en el desarrollo de la MiPyME en México. Este trabajo se desarrolló en tres partes; la primera, se conceptualiza y describen los indicadores del nivel macro de competitividad, así también se da cuenta de las investigaciones antecedentes que han intentado establecer una relación entre las variables del entorno y la competitividad de las empresas; la segunda, se realiza la descripción del entornomacroeconómico de la MiPyME en México, mostrando la evolución de las variablesmás importantes que afectan al desempeño empresarial; por último, se presenta un análisis FODA en el que se determina con respecto al entorno macroeconómico de quemanera este, afecta o beneficia al desarrollo de la MiPyME. ABSTRACT: The aim of this study is to determine how the macroeconomic environment, framed under theconcept of systemic competitiveness at the macro level, influences the development of the SME inMexico. This work took place in three parts the first is conceptualized and described themacro-level indicators of competitiveness, and realizes that background investigations have attempted to establish a relationship between environmental variables and competitiveness of enterprises. In the second part, it is described in the macroeconomic environment of the SME in Mexico, showing the evolution of themost important variables affecting business performance. Finally, we present a SWOT analysis that is determined with respect to the macroeconomic environment in which way this affects or benefits the development of SMEs.

scholarly journals Key Development Factors of Hydrothermal Processes in Germany by 2030: A Fuzzy Logic Analysis

Energies ◽  
2018 ◽  
Vol 11 (12) ◽  
pp. 3532 ◽  
Author(s):  
Daniel Reißmann ◽  
Daniela Thrän ◽  
Alberto Bezama
Keyword(s):  
Fuzzy Logic ◽  
System Integration ◽  
Swot Analysis ◽  
Wastewater Treatment Plants ◽  
High Water ◽  
Legal Framework ◽  
Probability Of Occurrence ◽  
Hydrothermal Processes ◽  
Industrial Level ◽  
Fuzzy Logic Analysis

To increase resource efficiency, it is necessary to use biogenic residues in the most efficient and value-enhancing manner. For high water-containing biomass, hydrothermal processes (HTP) are particularly promising as they require wet conditions for optimal processing anyway. In Germany, however, HTP have not yet reached the industrial level, although suitable substrates are available and technological progress has been made in previous years. This study aims to determine why this is by identifying key factors that need to occur HTP development in Germany until 2030. By using results of previous analyses within this context (i.e., literature review, SWOT analysis, expert survey, and focus group workshop) and combining them with the results of an expert workshop and Delphi-survey executed during this analysis, a comprehensive information basis on important development factors is created. Fuzzy logic is used to analyze these factors in terms of interconnections, relevance, and probability of occurrence by 2030. The results show that technological factors, such as a cost-efficient process water treatment and increased system integration of HTP into bio-waste and wastewater treatment plants, are given high relevance and probability of occurrence. The adaptation of the legal framework, for example, the approval of end products from HTP as standard fuels, has very high relevance but such adaptions are considered relatively unlikely.

THE ATTRACTIVENESS OF A SIMPLE JOINT-STOCK COMPANY COMPARED TO OTHER CAPITAL COMPANIES IN POLAND

2021 ◽  
Vol 22 (3) ◽  
pp. 159-172
Author(s):  
Paweł Łojek
Keyword(s):  
Swot Analysis ◽  
Balance Sheet ◽  
Limited Liability ◽  
Professional Experience ◽  
Tax Law ◽  
Joint Stock Company ◽  
Business Activity ◽  
Limited Liability Company ◽  
Stock Company ◽  
Great Opportunity

The aim of the article is to present a new form of business activity which is P.S.A. (Prosta Spółka Akcyjna). The provisions of the Commercial Companies Code, provisions of the balance sheet and tax law as well as the author’s professional experience were used for the analysis. Research results: A simple joint-stock company may be a competitive form of running a business in relation to a limited liability company. The discussed provisions constitute a great opportunity for a simple joint-stock company and a likely high percentage of establishing this type of business activity. The SWOT analysis was used as the research method. Contribution to the development of the discipline: review of the current legal regulations in Poland, comparison of forms of business activity and analysis of the strengths and weaknesses of a simple joint-stock company.

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