Privatization has certainly been one of the main events of the economic and financial history of the 20th century …. Between 1997 and 2004 more than 4,000 privatization operations were carried out in the world, bringing to governments revenues … factors. This paper investigates the causes of this process, summarizes the main trends of privatization activity at the …

This paper discusses the most important theoretical contributions to the literature on privatization, focusing on … emerging economies, and gives a summary on recent research concerning the ways privatization might affect the development of … privatization and the reduction in social welfare and the possibility that the privatization process itself may have conflicting …

This paper provides an empirical analysis of the role of political institutions in privatization. The empirical testing … we show the likelihood and the extent of privatization to be strongly and positively associated with majoritarian … political systems. On the contrary, in consensual democracies privatization seems delayed by a “war of attrition” among …

Stock market capitalization in developed countries grew while massive privatization plans were in progress. It is …

through 2000. We find that governments do not relinquish control after “privatization.” We show that the market-to-book ratios …

This paper provides evidence on abnormal returns of Portuguese privatization public offerings for the period from 1989 … privatization transactions and investigates the determinants of the observed price behavior. Our results are not supportive of the … underpricing phenomenon except if we exclude the very extreme observations. The results show further that privatization IPOs …