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Persistent link: https://www.econbiz.de/10003236322
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. …
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This paper examines the investment and financial decisions of a sample of 92 EU regulated utilities, taking into account key institutional features of EU public utilities, such as: a) regulation by agencies with various degrees of independence; b) partial ownership of the state in the regulated...
Persistent link: https://www.econbiz.de/10008729094
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We investigate how various institutional settings affect a network provider’s incentives to invest in infrastructure quality. Under reasonable assumptions on demand, investment incentives turn out to be smaller under vertical separation than under vertical integration, though we also provide...
Persistent link: https://www.econbiz.de/10001729423
with increasing returns to scale. We show that privatization is preferred to regulation for intermediate values of the … privatization is likely to disappear once the product market allows the entry of more than one firm.In this paper, we study the … show that privatization is preferred to regulation for intermediate values of the shadow cost of public funds (i.e., the …
Persistent link: https://www.econbiz.de/10011597781
Stock market capitalization in developed countries grew while massive privatization plans were in progress. It is …
Persistent link: https://www.econbiz.de/10011589394