efficiency and performance. To identify the role of patronage connection in privatization, we use the mandatory retirement age … privatization deals and jumps in efficiency for privatized SOEs when local politicians lose connections to Central Committee members …

Conventional wisdom and prevailing economic theory hold that the new owners of a privatized firm will cut jobs and … positive effects, and the effects of domestic privatization tend to be larger in countries with a more competitive business …

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