investigates the role of hybrid debt in the privatization of state‑owned enterprises (SOEs) via government‑controlled investment … in Europe and Asia. Moreover, in some cases, the privatization of SOEs by means of exchangeables can prove to be a more … shareholders. Third, the entire privatization process tends to be more flexible for issuers in that they can perceive exchangeables …

International organizations promote privatization as precondition for economic development. But is there really too … little privatization? This political economy model asks for the incentives of governments to privatize or restructure a state …-owned firm. Different government types are compared to identify the political and institutional determinants of privatization …

The issues of privatization (and sometimes deregulation) have been reviewed in a large literature on the various … aspects of privatization, that has emphasized the potential efficiency gains. Hence, we provide some theoretical reasoning why … privatization is useful as well as profitable for an economy and empirically present the extent of privatization in Austria and …

liberalization and their privatization which can be complete or partial such that upstream production is still run by an SOE. We show … in most cases even if a holdup problem exists. For any vertically separated structure we find that privatization through … multi-product firms welfare dominates privatization through single-product firms. …

International organizations promote privatization as precondition for economic development. But is there really too … little privatization? This political economy model asks for the incentives of governments to privatize or restructure a state …-owned firm. Different government types are compared to identify the political and institutional determinants of privatization …

Exploiting a unique institutional feature of the early Romanian privatization setup, when a group of firms was … explicitly barred from any privatization, we test how politicians select firms into privatization programs. Using a comprehensive … dataset that includes all firms inherited from socialism, we estimate the relation between pre-privatization firm …

Exploiting a unique institutional feature of the early Romanian privatization setup, when a group of firms was … explicitly barred from any privatization, we test how politicians select firms into privatization. Using comprehensive data that … includes all firms inherited from socialism, we estimate the relation between pre-privatization firm characteristics - the …

With the help of a peculiar institutional feature of early Romanian privatization, when a group of firms was explicitly … that politicians sheltered large and inefficient firms from privatization, which paid low wages and had high overdue … payments. These results are consistent with minimization of employment losses, even if efficiency enhancement of privatization …