This book gathers the proceedings of the ICAFFI International Conference on Accounting, Finance and Financial Institutions. The main topics addressed include: corporate finance, financial markets and asset pricing, empirical finance, taxation, financial risk management, international finance,...

The article discusses the identification and valuation of private benefits of control occurring when the State Treasury retains controlling interest in a company that is being privatised. The benefits are gained by politicians at the expense of the State Treasury and private investors. Using the...