@article{2023:brouthers:the_transf,
title = {The Transformation of the Romanian Economy Through Privatization and Internationalization},
year = {2023},
note = {In the late 1980s, Central and Eastern European nations (CEE) rejected
communism and embarked on a journey towards free-market democracy. As
part of this transformation, the Romanian economy transitioned from
communism to capitalism. The purpose for our paper is to suggest
insight from the Romanian experience that may be useful for nations in
Asia, Africa, Middle East or South America that maybe be undergoing a
similar transition. The main results of our paper is to substantiate
the precepts of institutional theory, that a system is best
transformed through external, international pressures. Our
contribution illustrates this transformation through the case studies
of Romtelecom, Dacia, and Petrom, Romanian state-owned enterprises
(SOE) privatized by foreign multinational corporation (MNC). We
distinguish between formal and informal institutions with the latter
tending to be overlooked by traditional researchers. Through these
longitudinal surveys we argue that multinational corporations are
possibly the best generators of informal institutions.},
journal = {JEEMS Journal of East European Management Studies},
pages = {265--292},
author = {Brouthers, Lance and Văduva, Sebastian and Tiron-Tudor, Adriana and Burtic, Daniel},
volume = {28},
number = {2}
}