promote better corporate governance in privatized firms after privatization …. The paper has important implications for policymakers in supporting privatization policy and in designing a framework to …

controlling for various forms of selection bias. It argues that privatization has different effects depending on the types of … owners to whom it gives control. In particular, privatization to outsider, but not insider, owners has significant … performance effects. Where privatization is effective, the effect on revenue performance is very pronounced, but there is no …

foreign investors i) seek safe, profitable firms in which they can exert unchallenged influence on corporate governance and …

will ensure that changes in ownership have the desired positive effect on governance. We find that progress in …