privatization (i.e., IPO) has different effects depending on the types of owners to whom it gives control in corporate governance …

offered in initial public offering (IPO). The sample consists of 258 Polish new stock companies over the period 2005-2020. We … find that such companies refrain from massive earnings management in the pre-IPO period: both real and accrual …-based. However, we find evidence that the presence of institutional investors in the IPO is related to earnings inflation (selling …

Critics of privatization argue that poor labor force restructuring is a key concern and that governments should … owners after privatization. Our results show that adverse selection plagues retrenchment programs carried out by governments … before privatization. Controlling for endogeneity, several labor retrenchment policies yield a negative impact on net …

We present evidence of major adjustment efforts in the State sector in Poland well before privatization. Extensive …

unique data sets: a survey of private (pre-IPO) companies and transaction data from SharesPost, a leading private …-company marketplace. We ask:• Should private companies allow their employees to sell equity prior to IPO?• If so, what restrictions should …