Privatisation, i.e. the transfer of ownership and control of state-owned enterprises, is a worldwide phenomenom. Which political, economic and institutional factors are shaping this process? This paper addresses the issue presenting new evidence from a sample of 49 countries. From an empirical...

Sovereign wealth funds (SWFs) are key actors in the global financial landscape of the twenty-first century. According to the OECD, at the peak of the global financial crisis, government driven international M&A reached US$120 billion, or 20% of the total international M&A. This dropped...

During 2005-2006, the Chinese government implemented a reform aimed at eliminating the so-called non-tradable shares (NTS) typically held by the State or by politically connected institutional investors that were issued at the early stage of financial market development. Our analysis, based on...