process by which mass privatization changes managerial behaviour in transition countries. We examine the structure of … ownership and the extent of exit and voice in one such country, Mongolia. We document the size of ownership changes since … privatization (through mergers, spin-offs, and stock sales) and examine which owners are changing in importance. We scrutinize …

the effect of mass privatization. We present a detailed picture of those relations for Mongolia, which has implemented a …Mass privatization is the centerpiece of policies aiming to sever the old links between state and enterprise and to … comprehensive voucher-privatization scheme. The state interacts with enterprises in multifarious ways, many inconsistent with the …