Megginson, William L.; Bortolotti, Bernardo; D'Souza, Juliet - 2001
significant declines in leverage. However, we also find numerous separable effects for variables measuring regulation, competition … conventional pre- versus post-privatisation comparisons, we find that profitability, output, operating efficiency and capital …, retained government ownership and foreign listing (on U.S. and U.K. exchanges). Competition significantly reduces profitability …