firms and document how heterogeneous debt-contracting infrastructures across Europe moderate this relation. Most European …

data permit us to track the privatization process and to estimate the impact of privatization within industry-year cells … majority privatized versus state-owned firms. The gap increases with time since privatization, reaching about 15-17% five years … after privatization. It also increases with calendar time although recent privatizations are associated with smaller …

Over the last two decades privatization programs in different countries radically reduced the role of the State as a …'s principal-agent structure following privatization, and incentives to invest in R&D and to patent. We compare the pre and post … privatization R&D effort and patenting behavior of 35 companies that were fully or partially privatized in 9 European countries …

In this paper, we analyze the impact of privatization on the firms' R&D performance. We expect that, in the early … period after privatization, path dependencies still negatively affect the efficiency of R&D operations. We test our … data of 40 firms, including 20 firms privatized through public share offering in different countries of Western Europe over …

We analyze when, and to a lesser extent how, privatization occurred in a group of thirty-five low or middle … primary determinant of privatization policies. Privatization is a means to an end, of course, rather than an end in itself …. But we proceed under the assumption that policymakers have decided, for whatever reason, that privatization is a desirable …

We construct and analyze a unique database with 1992-99 information on privatization transactions and labor … describe the post-privatization ownership structure and to test the effect of alternative privatization policies on firm … and domestic blockholders, but insider and mass privatization are also estimated to have positive, although smaller …

1990 to 2003. The estimating equation is augmented with country- and time-specific variables for methods of privatization … and other factors potentially relevant to growth in transition economies. It is found that 'mass privatization' is … associated with faster growth, but the other privatization methods have no significant impact. The findings suggest that in the …