We use new firm-level data to examine the effects of spinoffs and privatization on corporate performance in a rapidly … spinoffs increase the firm’s profitability but do not alter its scale of operations, while the effect of privatization depends … consistent with tunneling (looting) by managers or (partial) owners. The effects of privatization are hence much less clear …

determining the value of the firm in the event of privatization. We consider how bank decisions interact with those of … governmental leaders and firm managers and ultimately determine the attractiveness of privatization. We also analyze the conditions … under which shutdown might be preferred to privatization as a method to divest of government-owned firms. We find that this …

Why do some countries adopt market-oriented reforms such as deregulation, privatization and liberalization of …

privatization should be privatized first. The validity of the theoretical resultis tested on a firm level panel data set constructed … from Bulgarian Privatization Agencydocuments. The empirical estimation confirms that firms with larger gaps between their … average after privatization profits and before privatization profits are privatized sooner. …

-scale privatization economy (Czech Republic). Using specifications based on first-differences and unique instrumental variables, we find … that few types of private ownership improve dynamic post-privatization performance. Concentrated foreign (but not domestic …

principal targets of reforms, among SOEs, and better performing enterprises being more likely to be picked for privatization … better than those in which the majority of shares are owned privately. We find mixed evidence for the TVEs: privatization had …

We analyze the effect of ownership on post-privatization performance in a virtually complete population of medium and … large firms privatized in a model large-scale privatization economy (Czech Republic). We reject the hypothesis that domestic …

This paper seeks to provide an answer to the following question, namely when and how does privatization work? Using a … reforms and environment have an effect on the changes in operating performance. For example, we find that privatization yields … post-privatization performance changes. In particular, economic growth, control relinquishment by the government and …

quantitative analysis of mass privatization programs in the postcommunist world. We argue that rapid large-scale privatization … implementation of mass privatization programs negatively impacts measures of economic growth, state capacity and the security of …