Staged Privatization: Transforming State-Owned Enterprises into Market-Based Firms - 10.1628/093245616X14618208477844 - Mohr Siebeck
Wirtschaftswissenschaft

Kun Jiang, Susheng Wang

Staged Privatization: Transforming State-Owned Enterprises into Market-Based Firms

Jahrgang 172 () / Heft 4, S. 694-726 (33)

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Most privatizations around the world, especially in developed economies, are staged processes involving multiple stages of share lockup and unlocking in the stock market. This paper proposes a theory on staged or step-by-step privatization. We show that such an approach is efficient, in the sense that it can successfully transform state-owned enterprises into efficient market-based firms. Our theory explains the popularity of staged privatizations around the world. We have also conducted empirical analysis, yielding supporting evidence for our theory.
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Kun Jiang Keine aktuellen Daten verfügbar.

Susheng Wang Keine aktuellen Daten verfügbar.