years after privatization. Contrary to the increasing empirical evidence for non-transition economies, our privatized firms … privatization were country effects, timing of the privatization sales, industry classification, and state ownership after … privatization. Our findings are consistent with the empirical evidence that the transition process proved to be more difficult than …

excel. Our study is the first in the privatization literature to go beyond performance comparisons and examine firm …

(secondary buyouts) or exiting via an IPO. While exiting via trade sales and secondary buyouts, private equity investors tend to …