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After Voucher Privatization: The Structure of Corporate Ownership in Russian Manufacturing Industry

Earle, John S; Estrin, Saul - C.E.P.R. Discussion Papers - 1997

This paper analyses the ownership structure emerging from the Russian privatization process, using information from a … privatization methods for ownership structure, on the incidence of non-voting and voting shares, and on the extent of concentration …) estimates, suggesting that the privatization process may have contained a negative selection bias with respect to ownership by …

Persistent link: https://www.econbiz.de/10005136416

Working in Public and Private Firms

Corneo, Giacomo; Rob, Rafael - C.E.P.R. Discussion Papers - 2001

We develop a theoretical framework for comparing the style of work in public and private enterprises. We incorporate ‘socializing’, as an activity that yields utility for workers and affects a firm’s output, into a simple multitask model of work organization. In contrast with previous...

Persistent link: https://www.econbiz.de/10005791698

The Effect of Privatization and Competitive Pressure on Firms' Price-Cost Margins: Micro Evidence from Emerging Economies

Konings, Jozef; Van Cayseele, Patrick; Warzynski, Frederic - C.E.P.R. Discussion Papers - 2003

estimate market power (i.e. price-cost margins) and to analyse how these are affected by privatization and increased …

Persistent link: https://www.econbiz.de/10005667013

Risk tolerance and entrepreneurship

Hvide, Hans K; Panos, Georgios - C.E.P.R. Discussion Papers - 2013

A tradition from Knight (1921) argues that more risk tolerant individuals are more likely to become entrepreneurs, but perform worse. We test these predictions with two risk tolerance proxies: stock market participation and personal leverage. Using investment data for 400,000 individuals, we...

Persistent link: https://www.econbiz.de/10011083758

Enterprise Restructuring in Transition: A Quantitative Survey

Djankov, Simeon; Murrell, Peter - C.E.P.R. Discussion Papers - 2002

varies across regions. We study the effects of privatization, the importance of different types of owners, the effects of …

Persistent link: https://www.econbiz.de/10005504282

Privatization and Stock Market Liquidity

Bortolotti, Bernardo; de Jong, Frank; Nicodano, Giovanna; … - C.E.P.R. Discussion Papers - 2004

Using panel data of 19 developed economies in the period 1985-2000, we show that share issue privatization (SIP …

Persistent link: https://www.econbiz.de/10005504346

Public Versus Private Ownership: Quantity Contracts and the Allocation of Investment Tasks

Hoppe, Eva I; Schmitz, Patrick W - C.E.P.R. Discussion Papers - 2008

The government wants a certain good or service to be provided. Should the required assets be publicly or privately owned or should a partnership be formed? Building on the incomplete contracting approach, we argue that the initially specified quantity of an ex ante describable basic good can...

Persistent link: https://www.econbiz.de/10005497777

Optimal Privatization Using Qualifying Auctions

Boone, Jan; Goeree, Jacob K. - C.E.P.R. Discussion Papers - 2005

This paper explores the use of auctions for privatizing public assets. In our model, a single ‘insider’ bidder (e.g. incumbent management of a government-owned firm) possesses information about the asset’s risky value. In addition, bidders are privately informed about their costs of...

Persistent link: https://www.econbiz.de/10005497839

Who Wants to Revise Privatization and Why? Evidence from 28 Post-Communist Countries

Denisova, Irina; Eller, Markus; Frye, Timothy; … - C.E.P.R. Discussion Papers - 2007

privatization, but most respondents prefer to leave firms in private hands. We examine who wants to revise privatization and why …. Respondents with poor human capital and few assets support revising privatization due to a preference for state over private … property. Economic hardships during transition increase support for revising privatization due to the perceived unfairness of …

Persistent link: https://www.econbiz.de/10005497879

Privatization, Public Deficit Finance, and Investment in Infrastructure

Christodoulakis, Nikos; Katsoulacos, Yannis - C.E.P.R. Discussion Papers - 1993

The paper presents a theoretical analysis of the relationship between privatization and public deficit finance. We … examine the optimal magnitude of public asset sales and the extent to which privatization can be used to reduce taxes, or, to … retire public debt, for two cases. In the first, standard case, privatization proceeds are used directly to finance the …

Persistent link: https://www.econbiz.de/10005497891