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 …

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. …

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