brightest managers to the public sector abound. This paper studies self-selection into managerial positions in the public and … ability is always higher in the private sector. As a result, relatively many of the more able managers self-select into the …

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 …

privatizations are accompanied by asset stripping. In addition to directly testing the theory, we also tackle an important policy …-oriented issue of why a large number of efficient firms disappeared during mass privatization in a booming economy of Montenegro …. Econometrically, we present the first study to look at firms that disappeared during a mass privatization transition, improving upon …

ownership and supervisory board size, we do find significant entrenchments effects associated with ownership by managers …

require a broad program that encompasses not only privatization but also laws and their effective implementation to provide …

bad luck and may find it difficult to identify and attract talented managers from other clubs. Indeed, most of the … discuss the implications of our findings in the context of principal-agent theory and the wider literature on turnover among …

During the transition from plan to market, managers and politicians succeeded in maintaining control of large parts of … model, measure and investigate this process empirically. This paper tries to fill this gap by putting forward theory and …