creditors play an active role in disciplining. Block purchases have a monitoring role in Belgium and Germany, but not in France …

-level dataset to study this redistribution in East Germany where the entire state-owned economy was either privatized or liquidated … within less than five years. We examine whether the privatization authority followed its mandate to privatize competitive … investors, and are more likely to remain in business even 20 years after leaving public ownership. The privatization agency …