private firm. We solve analytically for the Kantian equilibrium of this lobbying game together with the majority voting … more concentrated among the top productivity individuals, their increased lobbying effort generates efficiency as well as …

-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 …