through 2000. We find that governments do not relinquish control after privatization. We show that the market-to-book ratios …

Is privatization in a country related to the stringency of its employment protection laws (EPL) – and, if so, how? We … address this question using privatization deals in fourteen European countries over three decades and all the changes in EPL …-in-difference tests for the entire sample, we find that stringent EPL discourage privatization in a country. For identification, we use …

Do employment protection laws hinder privatization? Using privatization deals in fourteen European countries from 1977 … significantly deter privatization. The fear of job cuts apparently leads organized labor in the state-owned enterprises to … vehemently oppose privatization. We find that stringent employment protection laws inhibit privatization disproportionately more …

Development) countries. At the end of 2000, after the largest privatization wave in history, governments retained control of 62 …