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 …

Most privatization programs begin with a period of partial privatization in which only non-controlling shares of firms … partial privatization has little impact on firm behavior. This perspective ignores the role that the stock market can play in … population of Indian state-owned enterprises we find that partial privatization has a positive and highly significant impact on …