This study investigates the determinants of residual government ownership and the impact of such ownership on post-privatization … privatization …

have set up stronger governance than domestic private firms that have not experienced privatization. I propose seven … governments' fiscal conditions in the privatization year and privatized firms' governance, which suggests a significant role … played by local governments in shaping corporate governance during the privatization process …

While privatization has long been a central pro-market strategy for promoting competitiveness, little is known about … which aspects of this multilevel process impact firm performance. Agency theory predicts that privatization will improve … privatization of Indonesian state-owned firms during which firms experience only changes in monitoring, as majority state ownership …

economy and hence have engaged in privatization and sell-out efforts. Still, the Indian state owns about 277 enterprises, of …