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This chapter explores the advantages (for large investors) of directly owning productive assets, compared with indirect ownership through stock in corporations. Significant factors are agency costs and recent changes in the tax and regulatory environment. Recent corporate scandals have led to...
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We analyze the effect of privatization on the performance of British Airways by examining the privatization's impact on … Airways' privatization, implying expectation of a more competitive British Airways. Closer rivals of British Airways … significantly upon privatization. The results suggest that a change from government to private ownership improves economic …
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