This paper empirically analyzes the political and economic objectives underlying privatization on the stock market. Particularly, I explain the factors of SIPs underpricing, and analyze if the change of political parties in government play a role on the issue. The paper has two main findings....

Italys first Fascist government applied a large-scale privatization policy between 1922 and 1925. The government privatized the state monopoly of match sale, eliminated the State monopoly on life insurances, sold most of the State-owned telephone networks and services to private firms,...

The Great Depression spurred State ownership in Western capitalist countries. Germany was no exception; the last governments of the Weimar Republic took over firms in diverse sectors. Later, the Nazi regime transferred public ownership and public services to the private sector. In doing so, they...

This research is developed within the general framework of the study on privatization costs. Analysing the costs involved in Public Offerings (PO) of the Spanish state-owned companies allows us to set up the privatizacion financial costs in Spain. Particularly, we are able to chek out the...

The starting point of this paper is a mixed oligopoly market consisting of n privately owned profit maximizing firms and 1 state-owned welfare maximizing firm. Motivated by the trend of mergers and acquisitions in the liberalized electricity markets, and by the debate about public or private...

We analyse how the internal organisation of firms affects the correspondence between private and social incentives for horizontal merger. Applying a model of endogenous merger formation in a three-firm asymmetric Cournot industry, we contrast the cases of entrepreneurial and managerial firms....

I ringa utsträckning diskuteras graden av konkurrens. En förklaring kan vara, att konkurrensuppfattningen härrör från neoklassisk teori. En mera realistisk konkurrensuppfattning vinns genom att utgå från SCP-paradigmet. Med hjälp av detta paradigm kan urskiljas tre grupper av begrepp,...

Many countries that produce rough diamond have experienced a highly adverse pattern of economic development. In this article, we propose that the primary reason for the negative impact is that diamonds easily become the prize in predatory struggles between loot-seeking rebels and more or less...

System reliability is a key aspect of electricity supply, and the ability to maintain system reliability thus is an important aspect of a liberalised electricity market. But system reliability can be ensured only if there is sufficient reserve capacity at all times. In a liberalised electricity...

In a non-cooperative oligopoly model where firms use simple linear prices, Klemperer (1987) has shown that the existence of consumers’ switching costs may generate monopoly like prices, and thereby create substantial loss in welfare. We show that when allowing firms to use two-part tariffs,...