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The effects of privatization on R&D investments and patent productivity

Munari, Federico; Sobrero, Maurizio - 2002

Over the last two decades privatization programs in different countries radically reduced the role of the State as a …'s principal-agent structure following privatization, and incentives to invest in R&D and to patent. We compare the pre and post … privatization R&D effort and patenting behavior of 35 companies that were fully or partially privatized in 9 European countries …

Persistent link: https://www.econbiz.de/10011335727

Avenues of technology transfer: Foreign investment and productivity change in the Czech Republic

Djankov, Simeon; Hoekman, Bernard Marco - 1998

above average size, initial profitability and initial labor productivity. After controlling for this selection bias, we find … that foreign investment has a positive, but statistically insignificant, impact on TFP (Total Factor Productivity) growth …

Persistent link: https://www.econbiz.de/10011608384

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

From State to Market: A Survey of Empirical Studies on Privatization

Megginson, William L.; Netter, Jeffry M. - 1999

This study surveys the academic and professional literature examining the privatisation of state-owned enterprises (SOEs), with a focus on empirical studies. Privatisation has been instrumental in reducing state ownership in many countries and had a transforming effect on global stock markets,...

Persistent link: https://www.econbiz.de/10011608465

Why do governments sell privatised companies abroad?

Bortolotti, Bernardo; Fantini, Marcella; Scarpa, Carlo - 2000

This paper provides an empirical analysis of GovernmentsÕ decisions to sell privatised companies on both international and domestic markets in a sample of 392 privatisations in 42 countries in the 1977-1998 period. Political theories of privatisation find strong support in our analyses: market...

Persistent link: https://www.econbiz.de/10011608587

Sources of performance improvement in privatised firms: A clinical study of the global telecommunications industry

Megginson, William L.; Bortolotti, Bernardo; D'Souza, Juliet - 2001

efficiency gains result from better incentives and productivity, rather than from wholesale firing of employees and profitability …

Persistent link: https://www.econbiz.de/10011608788

Privatisation, large shareholders, and sequential auctions of shares

Bortolotti, Bernardo - 2001

We study the government's decision to sell a state-owned enterprise to strategic investors in a common value auction setting. The government can choose to sell his control stake all at once, or to design a sequential auction of shares. The sequential auction allows information transmission, so...

Persistent link: https://www.econbiz.de/10011608799

Privatisation around the world: New evidence from panel data

Bortolotti, Bernardo; Fantini, Marcella; Siniscalco, … - 2001

This paper presents new evidence about privatisation processes and their determinants from a panel of 34 countries over the 1977-99 period. The empirical analysis shows that privatisation takes place typically in wealthy and democratic countries, endowed with deep and liquid stock markets, and...

Persistent link: https://www.econbiz.de/10011608839