CEES was merged with CIBEM from January 2009.

Ongoing research projects:

GREB Governance and Restructuring of Enterprises in the Baltics
2002- , financed by internal research funds.

Coordinator, Niels Mygind.

This project analyses the determinants behind the new ownership structures and governance practices emerging during the transition process in the three Baltic countries. This includes a closer analysis of the special governance cycle – sequential changes in ownership type – closely related to the transitional restructuring process of the companies in the Baltics. Another core research question under investigation is: What are the relations between different ownership structures/governance practices and economic restructuring and performance? The analysis is based on panel data of ownership and financial results covering around 500 enterprises for each of the three countries collected over a long period and still being updated for Estonia. This data is supplemented with special management surveys on board structure, management tenure, compensation and specific restructuring activities. The analysis is further supported by qualitative case-studies for around 10 companies in each country.

CBS researchers involved in the project:
Niels Mygind (coordinator)
Evis Sinani (researcher)
Bersant Hobdari, (researcher)
External partners
Derek Jones, Hamilton College, US
Panu Kalmi, Helsinki School of Economics and Business Administration

Finished research projects 1996-2006

MASEE - Merger & Acquisition Strategies in Eastern Europe
2003-2006, Financed by SSF, Danish Social Science Foundation.

Read the report: MASEE Report 2006

Participating researchers:
From CEES/INT
Coordinator: Klaus Meyer
Delia Inonascu
Niels Mygind
Camilla Jensen
Evis Sinani
Yen Thi Thu Tran

External partners:
Saul Estrin, London Business School
Zoltan Antal-Mokos, Budapest Management School
Krisztina Toth, Budapest Management School
Przemyslaw Kulawczcuk, IPED, Gdansk
Mieczyslaw Bak, IPED, Warsaw
Anna Szczniak, IPED, Warsaw
Valdone Darskuvenie, Kaunas University, Lithuania
Lars Ohnemus, Baltic Management Institute, Lithuania

This research investigated the entry strategies of foreign investors into East European countries that became members of the European Union in 2004 with a special focus on entry strategies. Field research and questionnaire surveys were conducted in Hungary, Poland and Lithuania, three countries that represent the range of economic and institutional variation among the accession countries. The project investigated how local contextual variables, such as institutional development and resource endowment moderate the strategies chosen by foreign investors. In particular, how do foreign investors adopt their entry modes to account for the specific local context, and how to they manage acquisitions of private and former state-owned entities in transition economies?

The work built on a related project coordinated at London Business School which investigated investment strategies of foreign investors in four emerging economies: India, Vietnam, South Africa and Egypt. (See Estrin, Saul and Meyer, Klaus E., eds. (2004). Investment Strategies in Emerging Economies, Cheltenham: Elgar.)

Selected Publications:

Estrin, Saul; Meyer, Klaus E. & Bytchkova, Maria (2006): Entrepreneurship in Transition Economies, in: Mark Casson et al., eds.: Oxford Handbook of Entrepreneurship, Oxford University Press, in press.
Jakobsen, Kristian (2007). First mover advantages in Central and Eastern Europe: A comparative analysis of performance measures. Journal of East-West Business, vol 13, no 1.
Meyer, Klaus E. & Estrin, Saul, eds. (2007): Acquisition Strategies in European Emerging Economies, Baskingstoke: Palgrave Macmillan, 300 pages, in press – expected publication date January 2007.

Meyer, Klaus E. (2006): Globalfocusing: From Domestic Conglomerate to Global Specialist, Journal of Management Studies, 43, no. 5, 1109-1144.

Meyer, Klaus E. & Peng, Mike W. (2005): Probing Theoretically into Central and Eastern Europe: Transactions, Resources and Institutions, Journal of International Business Studies 36, no. 6, p. 600-621.

MANDI - Managing the Dynamic Interfaces between Culture and Knowledge
2002-2004, financed by SSF, Danish Social Science Foundation.(LOK program (Ledelse, Organisation og Kompetence), CBS, Dios A/S, Rovsing Management A/S, CSC Danmark A/S and Cell Network ab.

Read the report: Mandi report 2005

CBS researchers:
Kenneth Husted, MPP
Jens Gammelgaard, INT
Dana Minbaeva, INT
Thomas Ritter, Dept. of Marketing

External research partners:
Bo B. Nielsen, Western Washington University, USA
Coordinator Snejina Michailova

This action research project focuses on knowledge management, especially creation and sharing of new knowledge and knowing practices, combined with cultural and network perspectives. This particular integration of theoretical choices enables the study of new dynamic processes and organizational configurations which become highly relevant in the knowledge based economy. Since the contemporary business environment calls upon the ability to continuously adapt and deal with new situations, events and contexts, effective knowledge creation and utilization matter more now than ever before. And since knowledge management processes are far from being unified and coherent, their investigation in terms of their intermediation with cultural and network contexts becomes increasingly important and challenging. The action oriented focus of MANDI is placed on the development of new methods and techniques for managing companies' knowledge resources by taking into account cultural differences at national, organizational, and group level. The project is carried out in a close cooperation between the research team from CBS and the business partners.

Selected Publications:

Hutchings, Kate & Michailova, Snejina. 2004. Facilitating knowledge sharing in Russian and Chinese subsidiaries: The importance of groups and personal networks, Journal of Knowledge Management, 8(2): 84-94.

Minbaeva, Dana & Michailova, Snejina. 2004. Knowledge transfer and expatriation in multinational corporations: The role of disseminative capacity. Employee Relations, 26(6), special issue “International Human Resource Management in Retrospect and Prospect”, 663-679.

Husted, Kenneth & Michailova, Snejina. 2004. Decision making in organizations hostile to knowledge sharing. Journal for East European Management Studies, 9(1): 7-19.

Michailova, Snejina & Husted, Kenneth. 2003. Knowledge sharing hostility in Russian firms. California Management Review, Spring, 45(3): 59-77.

Husted, Kenneth & Michailova, Snejina. 2002. Diagnosing and fighting knowledge sharing hostility. Organizational Dynamics, 31(1): 60-73.

SODIAC - Sculpturing Organizational Dynamics in a Context: Lessons from and for Danish companies operating in the Russian market.
1999-2003, financed by SSF, Danish Social Science Foundation.

Read the newsletters: Sodiac newsletter no. 1 2001 | Sodiac newsletter no. 2 2001

Coordinators:
Snejina Michailova and Kenneth Husted, Management, Politics and Philosophy, CBS

The project has created a framework for understanding management and organizational change in a cross-cultural setting based on cases of Danish companies actively involved in Russia. The research analyzed the ways in which Danish organizational and management knowledge has been transferred and used in various Russian organizations. On that basis the research has in a critical fashion evaluated the practical consequences of the value and practice shifts for the Danish and Russian counterparts. The project has created a new managerial framework and developed both analytical and action oriented models related to organizational dynamics problems in the Danish-Russian context. The project was based on emancipatory action research.

Selected Publication:

Hollinshead, G. & Michailova, S. (2001): “The role of Western trainers in developing new entrepreneuralism in Eastern Europe. Block-busters or bridge-builders?” Management Learning. Vol. 32(3): 377-394.

GEREE - Governance and Enterprise Restructuring in Eastern Europe:
July 1997 - June 2001, financed by SSF, Danish Social Science Foundation.

Read the report: GEREE report 2001

Participating researchers:
From CEES
Coordinator Niels Mygind
Panu Kalmi
Bersant Hobdari.

External Researcher:
Derek Jones, Hamilton College, US

Key research questions:
What are the key concepts for a stakeholder related theory of enterprise governance?
What are the dynamics of the ownership and governance structure?
What are the relation between development in enterprise governance structure and restructuring?

Data:
Quantitative data on ownership and performance:
Estonia, 1994-2000, 4-500 firms, Latvia 1994-99: 600-1000 firms, Lithuania: 1992-96, 3-500 firms.

Manager survey on governance, participation, restructuring:
Estonia (done in 1997) 220 enterprises for the years 1993-1997,
Latvia (done in 1997) 167 enterprises for the years 1993-1996,
Lithuania (done in 1999) 405 enterprises for the years 1993, 1996 and 1999.

Case studies:
11 Estonia, 7 Latvia and 5 Lithuania.

Selected Publications:

Jones and Mygind: (1999a) The Nature and Determinants of Ownership Changes after Privatization: Evidence from Estonia, Journal of Comparative Economics 27,pp 422-441.

Mygind: (2000a) Privatisation, Governance and Restructuring of Enterprises in the Baltics, pp. 1-83, OECD, Centre for Co-operation with non-members, working paper CCNM/BALT(2000)6 http://www.oecd.org/sge/ccnm/pubs/gd/gdba0200/index.htm

Jones and Mygind: (2000a) The Effects of Privatization on Productive Efficiency: Evidence from the Baltic Republics, Annals of Public and Cooperative Economy. Vol 71, No 3, Sept. 2000.

Mygind: (2001) Enterprise Governance in Transition - a Stakeholder Perspective. Acta Oeconomica, 2-3, 2001

Panu Kalmi: (2000) Employment and share trade under employee share ownership - an application to transition economies. Economic analysis 2000, vol. 3, no. 1, pp 5-22

PFPB – Privatization and Financial Participation in the Baltic countries:
1994-1996, financed by EU-PHARE.

Read the report: PFPB report 1996

Participating Researchers:
Coordinator Niels Mygind, CEES
Milica Uvalic, Perugia University
Mario Nuti, University of Rome
Derek Jones, Hamilton College US
Tiit Elenurm and Erik Terk, Estonia
Inna Shteinbuka and Oleg Jemeljanovs, Latvia
Jonas Martinavicius, Birute Visokaviciene, and Arvydas Paskevicius, Lithuania.

Key research questions:
What determines the spread of employee ownership in the Baltic transition process?
How has the ownership structure changed after privatization, and what are the tendencies for the development of employee ownership in the future?
How is the economic performance of employee owned enterprises compared to other enterprises?

Data and analysis:
First stage: Analysis of background conditions and privatization forming different ownership types.
Second stage: Analysis of further change of ownership and the relation between ownership and performance.

Selected publications:

Privatization and Financial Participation in the Baltic Countries, 450 pages CEES/CBS, 1996.

Mygind N.: A Comparative Analysis of the Economic Transition in the Baltic Countries – Barriers, Strategies, Perspectives, in T. Haavisto: The Transition to a Market Economy – Transformation and Reform in the Baltic States, Edward Elgar, 1997, pp 17-65.

Mygind N.: Privatization and Employee Ownership - The Development in the Baltic Countries, in N.Hood, R. Kilis and J. Vahlne eds: Transitions in the Baltic States, Macmillan Press, London, 1997, pp 131-147.

Mygind N.: Employee-ownership in the Baltic Countries” in D.Vaughan-Whitehead and M. Uvalic, eds.: Workers´Share Ownership and Economic Democracy in Central and Eastern Europe, Edward Elgar, 1997, pp 49-79.