Even though it is well documented that privatization leads to an improvement in the performance of state-owned enterprises (SOEs) following divestiture, it is argued that the existing literature suffers from a misspecification measure because it does not consider the performance of control firms...

Late 1990, Egypt witnessed major and radical changes in all areas of its national life— political, legal, economic and social—as a reflection of implementing an economic reform programme in order to achieve progress in its economic indicators. This paper aims to examine the extent to which...