When Does Privatization Work? The Impact of Private Ownership on Corporate Performance in the Transition Economies

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ID: 307157
1999
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Abstract
This paper compares the performance of privatized and state firms in the transition economies of Central Europe, while controlling for various forms of selection bias. It argues that privatization has different effects depending on the types of owners to whom it gives control. In particular, privatization to outsider, but not insider, owners has significant performance effects. Where privatization is effective, the effect on revenue performance is very pronounced, but there is no comparable effect on cost reduction. Overlooking the strong revenue effect of privatization to outsider owners leads to a substantial overstatement of potential employment losses from postprivatization restructuring.
Reference Key
openalex_W2032224241 Use this key to autocite in the manuscript while using SciMatic Manuscript Manager or Thesis Manager
Authors Roman Frydman, Cheryl W. Gray, Marek P. Hessel, Andrzej Rapaczynski
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Journal the quarterly journal of economics
Year 1999
DOI
10.1162/003355399556241
URL
https://doi.org/10.1162/003355399556241
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