independence; b) partial ownership of the state in the regulated firm; and c) the government’s political orientation, which may …), while ownership has no effect. Leverage also increases when the IRA is in place, especially so if the regulated firm is …

and how this interaction is affected by ownership structure. We show that firms in our sample increase their leverage …

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 …

predicts, right wing executives with re-election concerns design privatization to spread share ownership among domestic voters. …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 …

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 …

literature on microeconomic evidence that shows that in the UK ownership change per se had little impact on long term …