Boubakri, Narjess; Cosset, Jean-Claude; Guedhami, Omrane; … - In: Journal of Corporate Finance 17 (2011) 2, pp. 244-258
We investigate the political determinants of residual state ownership for a unique database of 221 privatized firms operating in 27 emerging countries over the 1980 to 2001 period. After controlling for firm-level and other country-level characteristics, we find that the political institutions...