In this paper, we study the effect of share issue privatization (SIP) on private investment and financial market under … incomplete risk diversification. Risk neutrality and imperfect intertemporal substitutability make investment decreasing in … privatization (crowding-out effect). Vice-versa with risk aversion and perfect intertemporal substitutability (diversification …

This paper examines the investment and financial decisions of a sample of 92 EU regulated utilities, taking into … independence matters for both investment and financial decisions. Investment increases under an Independent Regulatory Agency (IRA … privately controlled. Finally political orientation does matter, as firm investment increases under more conservative (pro …