We show that privatization can be beneficial even if the government is rational and benevolent, and if the firm …, privatization is strictly preferable if the firm's future survival does not crucially depend on the success of managerial effort. …

We survey the theoretical literature on privatization and efficiency by tracing its evolution from the applications of … incomplete information to address privatization issues, comparing State Owned Entreprises (SOEs) with private regulated firms …. The benefits of privatization may either derive from the constraints it places on malevolent agents or to the …

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 … privatised public utilities. We conclude that the contribution to consumers' welfare of the privatisation policy in the UK, when …

British PIPOs (Privatisation Initial Public Offerings) between 1977-1996, i.e. from the first privatisation under a Labour …

This paper sheds some light about privatisation in utilities. An empirical analysis based on sales in the electricity … sector in 38 countries for the period 1977-97 shows that regulation is a crucial institutional variable in privatisation. Not … proceeds reducing regulatory risk. The revenues-efficiency trade-off loses some relevance in electricity privatisation. …

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 … what it was two decades ago. Countries have adopted large-scale privatisation programs primarily for two reasons: first …

This paper investigates whether privatisation in emerging economies has a significant indirect effect on local stock … market development through the resolution of political risk. We argue that a sustained privatisation programme represents a … to regulatory and private property rights. We present evidence suggesting that progress in privatisation is correlated …

privatisation find strong support in our analyses: market oriented Governments favour domestic investors in the allocation of shares …