privatization (i.e., IPO) has different effects depending on the types of owners to whom it gives control in corporate governance …

-oriented issue of why a large number of efficient firms disappeared during mass privatization in a booming economy of Montenegro …. Econometrically, we present the first study to look at firms that disappeared during a mass privatization transition, improving upon … remaining in samples when estimating the effects of privatization or other ownership changes. We also show that one needs to …

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