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Benevolent government, managerial incentives, and the virtues of privatization
Lülfesmann, Christoph - 2002
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. …
Persistent link: https://www.econbiz.de/10011597691
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Political ownership
Bennedsen, Morten - 1999
Political involvement in the operation of an enterprise, whether it is private or state owned, creates opportunities for interest groups to influence the allocation of resources. Resource allocation transfers rent both between unions and private owners within the firm and between these organized...
Persistent link: https://www.econbiz.de/10012142223
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Do investments in specialized knowledge lead to composite good industries?
Soubeyran, Antoine; Stahn, Hubert - 2002
There are more and more industries in which firms are specialized in the production of a component of the final good. This is especially true in high-tech industries. The basic question is why don't these firms merge? We paradoxically show that industries which are typical candidates for...
Persistent link: https://www.econbiz.de/10011596910
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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
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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
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Outsourcing, Market Structure and Elections
Bennedsen, Morten; Schultz, Christian - 2003
Persistent link: https://www.econbiz.de/10012142270
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Regulatory independence and political interference : evidence from EU mixed-ownership utilities’ investment and debt
Cambini, Carlo; Rondi, Laura - 2010 - This draft: 11 May 2010
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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The private sector advances in China : the evolving ownership structures of the largest companies in the Xi Jinping era
Huang, Tianlei; Véron, Nicolas - 2022
This paper documents recent structural changes in China's corporate landscape, based on company level data, providing a complementary perspective to that of official Chinese statistics. We classify China's largest companies by revenue since 2004 (based on Fortune Global 500 rankings), and...
Persistent link: https://www.econbiz.de/10013184745
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Privatization and financial market development : theoretical issues
Chiesa, Gabriella; Nicodano, Giovanna - 2003
Stock market capitalization in developed countries grew while massive privatization plans were in progress. It is …
Persistent link: https://www.econbiz.de/10011589394
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Theory of privatization in Eastern Europe : literature review
Schindele, Ibolya - 2003
This paper discusses the most important theoretical contributions to the literature on privatization, focusing on … emerging economies, and gives a summary on recent research concerning the ways privatization might affect the development of … privatization and the reduction in social welfare and the possibility that the privatization process itself may have conflicting …
Persistent link: https://www.econbiz.de/10011589468