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privatization (i.e., IPO) has different effects depending on the types of owners to whom it gives control in corporate governance …
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In this paper we present and test a theory of how political corruption, found in many transition and emerging market economies, affects corporate governance and productive efficiency of firms. Our model predicts that underdeveloped democratic institutions that do not punish political corruption...
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privatization and equitization of wholly controlled SOEs, with the State retaining partial ownership in many privatized businesses …
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