메뉴 건너뛰기




Volumn 11, Issue 5, 2005, Pages 747-766

Effect of institutional and firm-specific characteristics on post-privatization performance: Evidence from developed countries

Author keywords

Corporate governance; Privatization

Indexed keywords


EID: 27144541768     PISSN: 09291199     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.jcorpfin.2004.12.001     Document Type: Article
Times cited : (136)

References (42)
  • 1
    • 27144489750 scopus 로고    scopus 로고
    • Foreign ownership in the privatization process: Empirical evidence from Czech privatization
    • University of Missouri and University of Pittsburgh, Working Paper
    • Anderson, C., Makhija, A., Spiro, M., 1997. Foreign ownership in the privatization process: Empirical evidence from Czech privatization. University of Missouri and University of Pittsburgh, Working Paper.
    • (1997)
    • Anderson, C.1    Makhija, A.2    Spiro, M.3
  • 2
    • 0000933602 scopus 로고    scopus 로고
    • Privatization and efficiency in a differentiated industry
    • S. Anderson A. de Palma J. Thisse Privatization and efficiency in a differentiated industry European Economic Review 41 1997 1635-1654
    • (1997) European Economic Review , vol.41 , pp. 1635-1654
    • Anderson, S.1    de Palma, A.2    Thisse, J.3
  • 3
    • 27144498223 scopus 로고    scopus 로고
    • Operating performance of privatized companies in transition economies: The case of Poland, Hungary, and the Czech Republic
    • University of Birmingham, Working Paper
    • Aussenegg, W., Jelic, R., 2002. Operating performance of privatized companies in transition economies: The case of Poland, Hungary, and the Czech Republic. University of Birmingham, Working Paper.
    • (2002)
    • Aussenegg, W.1    Jelic, R.2
  • 4
    • 0030194534 scopus 로고    scopus 로고
    • Detecting abnormal operating performance: The empirical power and specification of test statistics
    • B. Barber J. Lyon Detecting abnormal operating performance: The empirical power and specification of test statistics Journal of Financial Economics 30 1996 359-399
    • (1996) Journal of Financial Economics , vol.30 , pp. 359-399
    • Barber, B.1    Lyon, J.2
  • 5
    • 0010011676 scopus 로고    scopus 로고
    • The long-run performance of privatized firms: An empirical investigation
    • University of British Columbia, Working Paper
    • Boardman, A., Laurin, C., 1998. The long-run performance of privatized firms: An empirical investigation. University of British Columbia, Working Paper.
    • (1998)
    • Boardman, A.1    Laurin, C.2
  • 6
    • 27144504490 scopus 로고    scopus 로고
    • Bank privatization in developing and developed countries: Cross-sectional evidence on the impact of economic and political factors
    • Texas A&M University (Forthcoming)
    • E. Boehmer R. Nash J. Netter Bank privatization in developing and developed countries: Cross-sectional evidence on the impact of economic and political factors. Texas A&M University Journal of Banking and Finance 2004 (Forthcoming)
    • (2004) Journal of Banking and Finance
    • Boehmer, E.1    Nash, R.2    Netter, J.3
  • 7
    • 0004442622 scopus 로고    scopus 로고
    • The financial and operating performance of newly privatized firms: Evidence from developing countries
    • N. Boubakri J. Cosset The financial and operating performance of newly privatized firms: Evidence from developing countries Journal of Finance 53 1998 1081-1110
    • (1998) Journal of Finance , vol.53 , pp. 1081-1110
    • Boubakri, N.1    Cosset, J.2
  • 8
    • 27144471041 scopus 로고    scopus 로고
    • Liberalization, corporate governance, and the performance of newly privatized firms
    • doi:10.1016/j.corpfin.2004.05.001
    • N. Boubakri J. Cosset O. Guedmani Liberalization, corporate governance, and the performance of newly privatized firms Journal of Corporate Finance 11 2005 767-790 doi:10.1016/j.corpfin.2004.05.001
    • (2005) Journal of Corporate Finance , vol.11 , pp. 767-790
    • Boubakri, N.1    Cosset, J.2    Guedmani, O.3
  • 10
    • 0038713446 scopus 로고    scopus 로고
    • Privatization, compensation and management incentives: Evidence from the United Kingdom
    • M. Cragg A. Dyck Privatization, compensation and management incentives: evidence from the United Kingdom Journal of Law, Economics, and Organization 19 2003 176-217
    • (2003) Journal of Law, Economics, and Organization , vol.19 , pp. 176-217
    • Cragg, M.1    Dyck, A.2
  • 12
    • 0003683373 scopus 로고    scopus 로고
    • The determinants of enterprise restructuring in transition: An assessment of the evidence
    • World Bank, Working Paper
    • Djankov, S., Murrell, P., 2000. The determinants of enterprise restructuring in transition: An assessment of the evidence. World Bank, Working Paper.
    • (2000)
    • Djankov, S.1    Murrell, P.2
  • 13
    • 0000838266 scopus 로고    scopus 로고
    • Enterprise restructuring in transition: A quantitative survey
    • S. Djankov P. Murrell Enterprise restructuring in transition: A quantitative survey Journal of Economic Literature 40 2002 739-792
    • (2002) Journal of Economic Literature , vol.40 , pp. 739-792
    • Djankov, S.1    Murrell, P.2
  • 14
    • 0040517082 scopus 로고    scopus 로고
    • Stock market efficiency and economic efficiency: Is there a connection?
    • J. Dow G. Gorton Stock market efficiency and economic efficiency: Is there a connection? Journal of Finance 52 1997 1087-1129
    • (1997) Journal of Finance , vol.52 , pp. 1087-1129
    • Dow, J.1    Gorton, G.2
  • 15
    • 0011086176 scopus 로고    scopus 로고
    • The financial and operating performance of privatized firms during the 1990s
    • J. D'Souza W. Megginson The financial and operating performance of privatized firms during the 1990s Journal of Finance 54 1999 1397-1438
    • (1999) Journal of Finance , vol.54 , pp. 1397-1438
    • D'Souza, J.1    Megginson, W.2
  • 16
    • 1842445955 scopus 로고    scopus 로고
    • Private benefits of control: An international comparison
    • A. Dyck L. Zingales Private benefits of control: An international comparison Journal of Finance 59 2004 537-600
    • (2004) Journal of Finance , vol.59 , pp. 537-600
    • Dyck, A.1    Zingales, L.2
  • 17
    • 0031066331 scopus 로고    scopus 로고
    • Privatization and efficiency: Industry effects of the sale of British Airways
    • C. Eckel D. Eckel V. Singal Privatization and efficiency: Industry effects of the sale of British Airways Journal of Financial Economics 43 1997 275-298
    • (1997) Journal of Financial Economics , vol.43 , pp. 275-298
    • Eckel, C.1    Eckel, D.2    Singal, V.3
  • 19
    • 0006070524 scopus 로고    scopus 로고
    • When does privatization work? The impact of private ownership on corporate performance in transition economies
    • R. Frydman C. Gray M. Hessel A. Rapaczynski When does privatization work? The impact of private ownership on corporate performance in transition economies Quarterly Journal of Economics 114 1999 1153-1191
    • (1999) Quarterly Journal of Economics , vol.114 , pp. 1153-1191
    • Frydman, R.1    Gray, C.2    Hessel, M.3    Rapaczynski, A.4
  • 20
    • 0003671693 scopus 로고    scopus 로고
    • Economic Freedom of the World: 2001 Annual Report
    • (Fraser Institute, Vancouver)
    • Gwartney, J., Lawson, R., Skipton, C., 2001. Economic Freedom of the World: 2001 Annual Report (Fraser Institute, Vancouver).
    • (2001)
    • Gwartney, J.1    Lawson, R.2    Skipton, C.3
  • 21
    • 0003881133 scopus 로고    scopus 로고
    • Privatization in transition countries: A sampling of the literature
    • IMF, Working Paper
    • Havrylyshyn, O., McGettigan, D., 1999. Privatization in transition countries: A sampling of the literature. IMF, Working Paper.
    • (1999)
    • Havrylyshyn, O.1    McGettigan, D.2
  • 23
    • 8844252399 scopus 로고    scopus 로고
    • Corporate governance, investor protection, and performance in emerging markets
    • L. Klapper I. Love Corporate governance, investor protection, and performance in emerging markets Journal of Corporate Finance 10 2004 703-728
    • (2004) Journal of Corporate Finance , vol.10 , pp. 703-728
    • Klapper, L.1    Love, I.2
  • 27
    • 0000329790 scopus 로고    scopus 로고
    • Financial development and economic growth: Views and agenda
    • R. Levine Financial development and economic growth: Views and agenda Journal of Economic Literature 35 1997 688-726
    • (1997) Journal of Economic Literature , vol.35 , pp. 688-726
    • Levine, R.1
  • 28
    • 0346613552 scopus 로고    scopus 로고
    • Stock markets, banks, and economic growth
    • R. Levine S. Zervos Stock markets, banks, and economic growth American Economic Review 88 1998 537-558
    • (1998) American Economic Review , vol.88 , pp. 537-558
    • Levine, R.1    Zervos, S.2
  • 29
    • 0001759920 scopus 로고    scopus 로고
    • From state to market: A survey of empirical studies on privatization
    • W. Megginson J. Netter From state to market: A survey of empirical studies on privatization Journal of Economic Literature 39 2001 321-389
    • (2001) Journal of Economic Literature , vol.39 , pp. 321-389
    • Megginson, W.1    Netter, J.2
  • 30
    • 84993888589 scopus 로고
    • The financial and operating performance of newly privatized firms: An international empirical analysis
    • W. Megginson R. Nash M. Randenborgh The financial and operating performance of newly privatized firms: An international empirical analysis Journal of Finance 49 1994 403-452
    • (1994) Journal of Finance , vol.49 , pp. 403-452
    • Megginson, W.1    Nash, R.2    Randenborgh, M.3
  • 31
    • 10944226471 scopus 로고    scopus 로고
    • The choice of private versus public capital markets: Evidence from privatizations
    • W. Megginson R. Nash J. Netter A. Poulsen The choice of private versus public capital markets: Evidence from privatizations Journal of Finance 59 2004 2835-2870
    • (2004) Journal of Finance , vol.59 , pp. 2835-2870
    • Megginson, W.1    Nash, R.2    Netter, J.3    Poulsen, A.4
  • 32
    • 0031519897 scopus 로고    scopus 로고
    • The restructuring and privatization of Britain's CEGB: Was it worth it?
    • D. Newbery M. Pollitt The restructuring and privatization of Britain's CEGB: Was it worth it? Journal of Industrial Economics 45 1997 269-303
    • (1997) Journal of Industrial Economics , vol.45 , pp. 269-303
    • Newbery, D.1    Pollitt, M.2
  • 33
    • 0009932851 scopus 로고    scopus 로고
    • The choice of stock ownership structure: Agency costs, monitoring, and the decision to go public
    • M. Pagano A. Roell The choice of stock ownership structure: Agency costs, monitoring, and the decision to go public Quarterly Journal of Economics 113 1998 187-225
    • (1998) Quarterly Journal of Economics , vol.113 , pp. 187-225
    • Pagano, M.1    Roell, A.2
  • 34
    • 0011052654 scopus 로고    scopus 로고
    • Privatisation initial public offerings in Malaysia: Initial premium and long-term performance
    • K. Paudyal B. Saadouni R. Briston Privatisation initial public offerings in Malaysia: Initial premium and long-term performance Pacific-Basin Finance Journal 6 1998 1-25
    • (1998) Pacific-Basin Finance Journal , vol.6 , pp. 1-25
    • Paudyal, K.1    Saadouni, B.2    Briston, R.3
  • 35
    • 0031462728 scopus 로고    scopus 로고
    • Testing the limits of privatization: Argentine railroads
    • R. Ramamurti Testing the limits of privatization: Argentine railroads World Development 25 1997 1973-1993
    • (1997) World Development , vol.25 , pp. 1973-1993
    • Ramamurti, R.1
  • 36
    • 0000781487 scopus 로고    scopus 로고
    • Privatization incidence, ownership forms and firm performance: Evidence from Slovenia
    • S. Smith B. Cin M. Vodopivec Privatization incidence, ownership forms and firm performance: Evidence from Slovenia Journal of Comparative Economics 25 1997 158-179
    • (1997) Journal of Comparative Economics , vol.25 , pp. 158-179
    • Smith, S.1    Cin, B.2    Vodopivec, M.3
  • 38
    • 0040531555 scopus 로고    scopus 로고
    • The going public decision and the development of financial markets
    • A. Subrahmanyam S. Titman The going public decision and the development of financial markets Journal of Finance 54 1998 1045-1082
    • (1998) Journal of Finance , vol.54 , pp. 1045-1082
    • Subrahmanyam, A.1    Titman, S.2
  • 40
    • 0001829044 scopus 로고    scopus 로고
    • Privatization and efficiency: Differentiating ownership effects from political, organizational, and dynamic effects
    • B. Villalonga Privatization and efficiency: Differentiating ownership effects from political, organizational, and dynamic effects Journal of Economic Behavior and Organization 42 2000 43-74
    • (2000) Journal of Economic Behavior and Organization , vol.42 , pp. 43-74
    • Villalonga, B.1
  • 42
    • 0011150768 scopus 로고    scopus 로고
    • World Bank New York: Oxford University Press
    • World Bank Building institutions for markets 2002 Oxford University Press New York
    • (2002) Building Institutions for Markets


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.