Even though it is well documented that privatization leads to an improvement in the performance of state-owned enterprises (SOEs) following divestiture, it is argued that the existing literature suffers from a misspecification measure because it does not consider the performance of control firms...

The purpose of this paper is to examine the performance of 54 newly privatized Egyptian firms against a matching number of state-owned enterprises (SOEs). By matching sample firms (privatized) with control firms (SOEs) over 1994-98, our analyses show that privatized firms do not exhibit...

While it is well documented that privatization leads to an improvement in the performance of state-owned enterprises (SOEs) following divestiture, it is argued that many of these studies do not consider the performance of control firms of similar pre-privatization situations, i.e. the...