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Privatization and investment : crowding-out effects vs financial diversification

Girmens, Guillaume; Guillard, Michel - 2002

In this paper, we study the effect of share issue privatization (SIP) on private investment and financial market under … privatization (crowding-out effect). Vice-versa with risk aversion and perfect intertemporal substitutability (diversification … of the crowding-out effect, when the revenues of privatization are devoted to present public consumption. …

Persistent link: https://www.econbiz.de/10011598289

Selling company shares to reluctant employees : France Telecom's experience

Degeorge, François; Jenter, Dirk; Moel, Alberto; … - 2002

In 1997, France Telecom, the state-owned French telephone company, went through a partial privatization. We adapt a …

Persistent link: https://www.econbiz.de/10011598295

Postprivatization corporate governance : the role of ownership structure and investor protection

Boubakri, Narjess; Cosset, Jean-Claude; Guedhami, Omrane - 2003

We investigate the role of ownership structure and investor protection in postprivatization corporate governance. We find that the government relinquishes control over time, mainly to the benefit of local institutions and foreign investors. We also show that private ownership tends to...

Persistent link: https://www.econbiz.de/10011591071