This study investigates the impact of privatization on value creation in State Owned Enterprises (SOEs) in the Middle … rectify the findings of prior SOE privatization research by taking a finer-grained analysis into the conditions that determine … post-privatization performance. This study addresses the research question, "What is the effect of privatization in terms …

-controlling or "residual" state ownership framework, grounded in credible privatization and institutional theory. We propose that: 1 … signals state support for managerial initiatives; 2) the passage of time since initial privatization negatively affects … turn negative at higher state ownership levels. CARs turn sharply negative within 1-2 years from initial privatization …