Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/119718 
Authors: 
Year of Publication: 
2002
Series/Report no.: 
Nota di Lavoro No. 110.2002
Publisher: 
Fondazione Eni Enrico Mattei (FEEM), Milano
Abstract: 
Most privatization programs begin with a period of partial privatization in which only non-controlling shares of firms are sold on the stock market. Since management control is not transferred to private owners it is widely contended that partial privatization has little impact on firm behavior. This perspective ignores the role that the stock market can play in monitoring and rewarding managerial performance even when the government remains the controlling owner. Using data on the population of Indian state-owned enterprises we find that partial privatization has a positive and highly significant impact on firm sales, profits, and labor productivity.
Document Type: 
Working Paper

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.