"This study examines the operating performance of privatised firms in three Central European Transition Economies between 1990 and 1998. Overall, we find no evidence of a significant improvement in operating performance for the first six years after privatisation. Contrary to the increasing...

This paper examines Hungarian privatisation strategy and the financial performance of privatised enterprises. The results suggest that Hungary has preferred privatisation by direct sales by a considerable margin, but has recently shifted towards share issues. Both types of sale have...

There is a gap between the theoretical literature which almost unanimously advocates the privatization of enterprises, as part of the solution to the commitment problem in economies in transition, and the empirical evidence regarding the best way to design a privatization program in order to...

In contrast to the double taxation system prevailing in the U.S., Australian firms operate within an imputation tax environment with respect to dividend payments. We argue that the dividend imputation tax system increases the signaling potential of dividend reductions and our empirical findings...

Australian companies can choose among three different types of rights offerings: full standby (also known as “fully underwritten”); uninsured (or “non-underwritten”); and partial standby (“partly underwritten”). At the same time, each of these three kinds of rights offerings can be...