public intervention, and finally exit. When the blockholder faces short-term incentives, the threat of public intervention … incentive horizons, reduction in public intervention by a blockholder with short-term incentives strengthens public intervention … by the other with long-term incentives. This ameliorates the free-rider problem and restores the credibility of the …

We analyze the impact of partial public ownership (PPO) on managerial incentives. A novelty of the paper is that it … explicitly considers competition in the product market. We find that PPO negatively affects managerial incentives when all firms … incentives crucially depend on the degree of competitive pressure. Thereby, PPO induces either partially public firms or their …

viewpoint of specific investment incentives in strategic alliances under the possibility of the reallocation of corporate …