We study the government's decision to sell a state-owned enterprise to strategic investors in a common value auction setting. The government can choose to sell his control stake all at once, or to design a sequential auction of shares. The sequential auction allows information transmission, so...

List of contributors -- 1. Introduction / Bernardo Bortolotti and Gianluca Fiorentini -- Pt. I. Organized interests produce legislation. 2. Political institutions as screening devices / Gianluigi Galeotti ; 3. Electoral rules and interest groups: the mix of direct and indirect taxation /...

Extant research finds that announcement-period abnormal returns of sovereign wealth fund (SWF) equity investments in publicly traded firms are positive but lower than those of comparable private investments. We investigate the determinants of this “SWF discount” and mitigating mechanisms. We...