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The Political Economy of Privatization: Why Do Governments Want Reforms?

Boerner, Kira - 2004

International organizations promote privatization as precondition for economic development. But is there really too … little privatization? This political economy model asks for the incentives of governments to privatize or restructure a state …-owned firm. Different government types are compared to identify the political and institutional determinants of privatization …

Persistent link: https://www.econbiz.de/10011324980

The Missing Shock: The Macroeconomic Impact of British Privatisation

Florio, Massimo; Grasseni, Mara - 2004

productivity trends. …

Persistent link: https://www.econbiz.de/10011324982

Privatisations as price reforms: Evaluating consumers' welfare changes in the UK

Brau, Rinaldo; Florio, Massimo - 2002

This paper analyses the effects on consumers' welfare of the privatisation policy carried out in the UK since 1979. The approach we follow sees the privatisation of a State owned enterprise within the broader framework of the "policy reform" theory (Drèze and Stern, 1990). By adopting this...

Persistent link: https://www.econbiz.de/10011335730

The performance of state-owned enterprises and newly privatized firms: Empirical evidence from Egypt

Omran, Mohammed - 2002

Even though it is well documented that privatization leads to an improvement in the performance of state … because it does not consider the performance of control firms of similar pre-privatization situations, i.e. the performance of … following privatization. Matching sample firms (privatized) to control firms (SOEs), I document that privatized firms do not …

Persistent link: https://www.econbiz.de/10011335746

The abnormal returns of UK privatisations: From underpricing to outperformance

Florio, Massimo; Manzoni, Katiuscia - 2002

This paper offers a review and discussion of the evidence concerning the underpricing and long run performance of British PIPOs (Privatisation Initial Public Offerings) between 1977-1996, i.e. from the first privatisation under a Labour Government (British Petroleum), until the last ones by a...

Persistent link: https://www.econbiz.de/10011335748

Capital Structure and Regulation: Does Ownership Matter?

Cambini, Carlo; Bortolotti, Bernardo; Rondi, Laura; … - 2007

We construct a comprehensive panel data of 96 publicly traded European utilities over the period 1994-2005 in order to study the relationship between the capital structure of regulated firms, regulated prices, and investments, and examine if and how this interaction is affected by ownership...

Persistent link: https://www.econbiz.de/10010312393

Italys Privatization Process and Its Implications for China

Bortolotti, Bernardo - 2005

process. Particularly, it analyzes the symbiotic link between share issue privatization (SIP), i.e. privatization in public …

Persistent link: https://www.econbiz.de/10010312583

The Evolution of Enterprise Reform in Africa: From State-owned Enterprises to Private Participation in Infrastructure - and Back?

Nellis, John - 2005

was largely abandoned by the IFIs and privatization and private participation in infrastructure, or PPI became the order …

Persistent link: https://www.econbiz.de/10010312321

From Government to Regulatory Governance: Privatization and the Residual Role of the State

Perotti, Enrico; Bortolotti, Bernardo - 2005

This paper reviews the state of thinking on the governance role of public ownership and control. We argue that the transfer of operational control over productive assets to the private sector represents the most desirable governance, due to the inherent difficulty for citizens to constrain...

Persistent link: https://www.econbiz.de/10010312416

Strong Managers and Passive Institutional Investors in the UK

Goergen, Marc; Renneboog, Luc - 1999

The first striking feature is that ownership of the average UK company is diffuse: a coalition of at least eight shareholders is required to reach an absolute majority of voting rights. Even though the average firm has a dispersed ownership, the reader should bear in mind that there are about...

Persistent link: https://www.econbiz.de/10011608485