ENTERPRISE RESTRUCTURING UNDER THE IMPACT OF FINANCIAL CRISIS: THE CASE OF CEE COUNTRIES

This paper analyzes how the enterprises from the selected GEE countries conduct their restructuring operations in a turbulent environment affected by the financial crisis. Restructuring allows participants to reduce financing costs, especially in the situation when the purchase price is low compared with high levels of organizational costs. Although the financial side occupies an important position in such operations, the connection that is established between the power relationships is not negligible in such situations. The possibility of job loss or wage decrease can cause a state of dissatisfaction among employees, willing to block the activity of the enterprise in order to achieve their goals. Therefore through this paper we analyze the impact of the financial crisis on both the financial side of the restructuring operations made by the enterprises from GEE countries and also its impact on the power relationships within the enterprises. To perform this analysis we use data from the firms in CEE member countries that have made restructuring operations in the context of financial crisis.