-round mass privatization auction. The results presented here document that share valuation and demand in this auction were based … new evidence on the price discovery process in the Czech privatization auction and confirm the success of this auction in …

data permit us to track the privatization process and to estimate the impact of privatization within industry-year cells … majority privatized versus state-owned firms. The gap increases with time since privatization, reaching about 15-17% five years … after privatization. It also increases with calendar time although recent privatizations are associated with smaller …