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'Does ownership matter?', asks the title of a recent commentary on the privatisation debate (Yarrow, 1989). The author reviews the available evidence and concludes that it does only in so far as privately-owned firms outperform state enterprises under competitive market conditions.Remove the...
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This paper examines the role of buy-outs, divestment and other restructuring transactions as devices which may counter acknowledged weaknesses in the market for corporate control relating to managerial entrenchment strategies, acquisitions motivated by managerial interests, inadequate...
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