Large shareholders, private benefits of control, and optimal schemes of privatization

RAND Journal of Economics

Volumn 28, Issue 4, 1997, Pages 585-604

  Cornelli, Francesca ^a   Li, David D ^a  

^a NONE

Author keywords

[No Author keywords available]

Indexed keywords

EID: 0031324675     PISSN: 07416261     EISSN: None     Source Type: Journal    
DOI: 10.2307/2555777     Document Type: Article

References (16)

1. AGHION, P. AND BURGESS, R. "Financing and Development in Eastern Europe and the Former Soviet Union. Issues and Institutional Support." In D.K. Das, ed., International Finance: Contemporary Issues. New York: Routledge, 1993.
2. BARCLAY M.J. AND HOLDERNESS, C.G. "Private Benefits from Control of Public Corporations." Journal of Financial Economics, Vol. 25 (1989), pp. 371-395.
3. BOLTON, P. AND ROLAND, G. "Privatization Policies in Central and Eastern Europe." Economic Policy, Vol. 15 (1992), pp. 276-309.
4. BOYCKO, M., SHLEIFER, A., AND VISHNY, R. "Privatizing Russia." Brookings Papers on Economic Activities, Vol. 2 (1993), pp. 139-181.
5. Central European Business Weekly. "Deal in Sight for Americans with Budvar Brewery." January 28-February 3, 1994.
6. CORNELLI, F. "The Sale of Shares to Foreign Companies." In A. Schipke and A.M. Taylor, eds., The Economics of Transformation: Theory and Practice in the New Market Economies. Berlin: Springer-Verlag, 1993.
7. _ AND LI, D. "Large Shareholders, Control Benefits and Optimal Schemes for Privatization" LSE FMG Discussion Paper no. 185, 1994.
8. GROSSMAN, S.J. AND HART, O.D. "One Share-one Vote and the Market for Corporate Control." Journal of Financial Economics, Vol. 20 (1988), pp. 175-202.
9. GUESNERIE, R. AND LAFFONT, J.-J. "A Complete Solution to a Class of Principal-Agent Problems with an Application to the Control of a Self-Managed Firm." Journal of Public Economics, Vol. 25 (1984), pp. 329-369.
10. HARRIS, M. AND RAVIV, A. "Corporate Governance: Voting Rights and Majority Rules." Journal of Financial Economics, Vol. 20 (1988), pp. 202-235.
11. KORNAL, J. "The Principles of Privatization in Eastern Europe." In A. Knoester and A.H.E.M. Wellink, eds., Tinbergen Lectures on Economic Policy. Amsterdam: North-Holland, 1993.
12. LAFFONT, J.-J. AND TIROLE J. A Theory of Incentives in Procurement and Regulation. Cambridge, Mass.: MIT Press, 1993.
13. MASKIN, E.S. "Auctions and Privatization." In H. Siebert, ed., Privatization: Symposium in Honor of Herbert Giersch. Tubingen: Mohr (Siebeck), 1992.
14. _ AND RILEY, J. "Optimal Auctions with Risk Averse Buyers." Econometrica, Vol. 52 (1984), pp. 1473-1518.
15. _ AND _. "Optimal Multi-Unit Auctions." In F. Hahn, ed., The Economics of Missing Markets, Information and Games. Oxford University Press, 1989.
16. MYERSON, R.B. "Optimal Auction Design." Mathematics of Operations Research, Vol. 6 (1981), pp. 619-632.