Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/119687 
Autor:innen: 
Erscheinungsjahr: 
2002
Schriftenreihe/Nr.: 
Nota di Lavoro No. 73.2002
Verlag: 
Fondazione Eni Enrico Mattei (FEEM), Milano
Zusammenfassung: 
Even though it is well documented that privatization leads to an improvement in the performance of state-owned enterprises (SOEs) following divestiture, it is argued that the existing literature suffers from a misspecification measure because it does not consider the performance of control firms of similar pre-privatization situations, i.e. the performance of SOEs.In this study, I use accounting-based performance measures to evaluate the performance of newly privatized Egyptian firms versus the performance of SOEs. I document significant improvements in profitability, efficiency, and dividends, and insignificant decreases in leverage, employment, and risk, whereas capital expenditure and output show insignificant decreases following privatization. Matching sample firms (privatized) to control firms (SOEs), I document that privatized firms do not witness any significant improvement in their performance, which questions the benefits of privatization in Egypt.
JEL: 
G32
L33
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
622.24 kB





Publikationen in EconStor sind urheberrechtlich geschützt.