This paper compares the long-run buy-and-hold returns of privatization initial public offerings (IPOs) to those of the domestic stock markets of respective countries using a sample of 241 privatization IPOs from 41 countries. The evidence indicates that the privatization IPOs significantly...

Recent evidences indicate that privatization leads to enormous benefits to society almost without undesirable costs. However, stakeholders of privatization seem not to satisfy the resulting performance of privatized firms. Using data from 202 firms privatized from 37 countries during the period...