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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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In 1997, France Telecom, the state-owned French telephone company, went through a partial privatization. We adapt a …
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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...
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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...
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Stock market capitalization in developed countries grew while massive privatization plans were in progress. It is …
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