We examine the stock price reaction of rival firms to privatization announcements to infer information about industry … effects of privatization. We find that the rival firms reacted negatively to privatization announcements, thus suggesting that … the announcement effects reflect competitive considerations rather than positive industry-wide effects. In comparison, we …

, the UK and Germany in the period 1980q1-2015q4. Our approach is based on the comparison of one baseline structural VAR …

This paper provides an empirical analysis of the role of political institutions in privatization. The empirical testing … we show the likelihood and the extent of privatization to be strongly and positively associated with majoritarian … political systems. On the contrary, in consensual democracies privatization seems delayed by a war of attrition among different …

to more private sector financing. Since the Asian Development Bank was involved in restructuring and regulatory reform in …