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We revisit the contract-theoretic literature on privatization initiated by Hart et al. (1997). This literature has two …
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We investigate the nature and extent of information asymmetry among traders in companies with government ownership. Consistent with a less transparent information environment, we find relatively less informed trading in the shares of firms with government presence, and specifically, fewer...
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This paper models privatization as a cooperative game between the government, a trade union and the private … shareholders. These players know that privatization increases the efficiency of a firm, but only the management of the firm knows …
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amongst mortgage lenders and adds the idea of lender competition into this framework. Despite this addition, the results are …. When lenders are rational and face potential competition, they are able to use the bidding process as a means of generating …
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