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

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 …

regional competition isrelated with better performance. Secondly, privatization per se isnot. If there is one ownership …