What a year 2009 was for privatization worldwide! One year after witnessing massive injections of government capital into financial systems, 2009 saw a record volume of state sales of corporate equity - or, stated more accurately, a record volume of corporate repurchases of government-owned...

This article details major privatization deals executed during 2011 and the first half of 2012 and surveys trends shaping the privatization landscape worldwide. We document several important facts, including the following: Governments raised only $94.4 billion (€68.2 billion) through...

This article details major privatization deals executed during 2010 and the first half of 2011 and surveys trends shaping the privatization landscape worldwide. We document several important facts, including the following: Governments raised a record $213.6 billion (€159.9 billion) through...

Several signaling models predict that firms underprice their initial offerings of equity deeply so that they can subsequently issue seasoned equity at more favorable terms. We test the implications of those models. We find a positive relation between IPO underpricing and the possibility of and...

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...

Frequently the largest equity offerings in the world, share-issue privatizations (SIPs) are sometimes conducted entirely on domestic exchanges and are sometimes cross-listed on foreign exchanges. In this paper, we examine the determinants of a privatizing government's actions regarding whether...

Growth equity (GE) funds have emerged as the third major private equity asset class for investors, alongside venture capital (VC) and buyout (B/O) funds, and as an important new source of external equity capital for private companies and entrepreneurs wishing to fund growth without surrendering...