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Government Control of Privatized Firms
We study the change in government control of privatized firms in OECD (Organisation for Economic Co-operation and Development) countries. At the end of 2000, after the largest privatization wave inExpand
The Sovereign Wealth Fund Discount: Evidence from Public Equity Investments
We document that announcement-period abnormal returns of sovereign wealth fund (SWF) equity investments in publicly traded firms are positive but lower than those of comparable private investments.Expand
Privatisation Around the World: New Evidence from Panel Data
This paper presents new evidence about privatisation processes and their determinants from a panel of 34 countries over the 1977-99 period. The empirical analysis shows that privatisation takes placeExpand
Privatization and the sources of performance improvement in the global telecommunications industry
Abstract 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.Expand
Sovereign Wealth Fund Investment Patterns and Performance
This study describes the newly created Monitor-FEEM Sovereign Wealth Fund Database and discusses the investment patterns and performance of 1,216 individual investments, worth over $357 billion, madeExpand
The Rise of Accelerated Seasoned Equity Underwritings
Seasoned equity offerings (SEOs) executed through accelerated underwritings have increased global market share recently, raising over $850 billion since 1998, and now account for over halfExpand
The Political Economy of Privatization
This paper provides an empirical analysis of the role of political institutions in privatization. The empirical testing relies on a new political database with continuous and time-varying measures ofExpand
Privatisation: politics, institutions, and financial markets
Abstract This paper presents evidence on privatisation processes in 49 countries for the period 1977–1996. The empirical analysis shows that the decision to privatise and the choice of privatisationExpand
The Challenges of Privatization: An International Analysis
From 1997 to 2001, more than 4,000 privatization operations have been carried out in more than 100 countries, bringing in government revenues of over 1,362 billion dollars. The phenomenon, which grewExpand
Privatization and Stock Market Liquidity
Using panel data of 19 developed economies in the period 1985-2000, we show that share issue privatization (SIP) strongly affects a fundamental aspect of financial development: market liquidity.Expand