accruals in the year prior to and/or in the year of privatization. The SOEs used both short term and long term accruals to … inflate reported earnings. These accruals got reversed in the post-privatization period. These findings suggest that managers … of the firms under privatization were engaged in earnings management to inflate their firms' financial worth to maximize …

private investors in the privatization of state-owned enterprises (SOEs). We find that the managers of listed Chinese SOEs … turnover rate in the year following the privatization. These findings highlight the need to consider the opportunism of …

communication is a mechanism by which mandatory disclosure may destroy value, leading firms to remain private …

investigates the role of hybrid debt in the privatization of state‑owned enterprises (SOEs) via government‑controlled investment … in Europe and Asia. Moreover, in some cases, the privatization of SOEs by means of exchangeables can prove to be a more … shareholders. Third, the entire privatization process tends to be more flexible for issuers in that they can perceive exchangeables …

terms exhibit a larger increase in sensitivity to borrowers' FRQ. These results suggest that post-privatization: (1) CSBs …