employment contract. We show that not imposing such an agreement can be beneficial for the principal as the possibility to leave … value created is sufficiently small relative to the agent’s outside option. If the principal can use an option contract for …

contract theory and are more in line with empirical findings than standard results. We find: First, inequity aversion alters …

one caused by sector-specific job characteristics. A natural experiment – the massive privatization process in post …-Soviet countries – allows correcting potential self-selection bias. Industry-specific privatization probabilities are assigned to …

privatization in postcommunist Russia. Taking advantage of large regional variation in the size of public administrations, and … employing a multilevel research design that controls for pre-privatization selection in the estimation of regional privatization … effects, we examine the relationship between state bureaucracy and the impact of privatization on firm productivity. We find …

This paper investigates the role of structural reforms – privatization, financial reform and trade liberalization – as … financial liberalization and privatization. These results are robust to different measures of reforms, split samples, and …

We explore the impact of privatization and the entry of new firms on enterprise performance in Belarus, a transition …

privatized firms. First, accounting data prior to and after the privatization are employed to measure the operating performance … are significantly different to private counterparts. Overall results, however, show that the privatization in Sweden was …