The scope of privatization -- Why do countries privatize? -- How do countries privatize? -- Empirical evidence on privatization's effectiveness in non-transition economies -- Empirical evidence on privatization in transition economies -- The structure and investment performance of privatization...

This paper examines the financial and operating performance of 31 national telecommunication companies in 25 countries that were fully or partially privatized through public share offering. Using conventional pre- versus post-privatization comparisons and panel data estimation techniques, we...

This study describes the Indian corporate governance system and examines how the system has both supported and held back India's ascent to the top ranks of the world's economies. While on paper the country's legal system provides some of the best investor protection in the world, enforcement is...

This paper examines how legal risk, defined as the strength of creditor rights and legal enforcement, affects debt ownership concentration in the project finance loan market. Using a sample of 495 project finance loan tranches from 61 countries, worth $151 billion, we document high levels of...