Privatizations are commonly associated with an increase in efficiency due to a stronger focus on profit maximization and less agency conflicts because the ...
Privatizations are commonly associated with an increase in efficiency due to a stronger focus on profit maximization and less agency conflicts because the ...
This paper discusses whether SIPs generate positive announcement returns because of increased efficiency after the ownership transition. We apply a market model ...
We find that privatized firms increase cash dividends following the privatization. Reduced insider tunnelling and free cash flow problem explain the increase.
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We find evidence that share issuance results in the dilution of state ownership in the highly profitable and leveraged firms that rely more on subsidies, while ...
We examine the privatization of an industry containing two firms producing differentiated products. The firms are sold simultaneously by competitive auction.
Privatization is a central feature of the structural reform programs being adopted throughout Eastern Europe.
Abstract. We construct and analyze 1992-2001 panel data to study the effects of alternative post- privatization ownership structures on firm performance and ...
additive effect for privatized firms allows us to separate the transition and privatization effects. ... value of the privatization effect is 19%. 32. As ...
The privatization of state assets constitutes a powerful tool of economic reform but not a panacea. It can be seen as a weighted introduction of private ...