IDEAS home Printed from https://ideas.repec.org/a/bla/jomstd/v35y1998i5p619-640.html
   My bibliography  Save this article

Privatization from the Acquirer's Perspective: a Mergers and Acquisitions Based Framework

Author

Listed:
  • Nikolaus Uhlenbruck
  • Julio de Castro

Abstract

Privatization, especially in developing countries, presents international firms with opportunities for market entry and growth, but acquirers have to consider the distinct characteristics of a state owned enterprise (SOE) and the influence of the government as seller and policy maker. This study introduces a model, based on mergers and acquisitions literature and microeconomic theory, that explains the critical relationships among characteristics of the SOE, the government, and the acquirer. Public administration research suggests that the critical characteristics of SOEs are their sources of funding and their mode of social control of the organization, and recent work in privatizing countries emphasizes the influence of the government. The theoretical framework for the model suggested here is derived from research within the field of strategic management on mergers and acquisitions. The paper develops propositions regarding the organizational fit between private firms and those heretofore owned by governments and discusses research and managerial implications.

Suggested Citation

  • Nikolaus Uhlenbruck & Julio de Castro, 1998. "Privatization from the Acquirer's Perspective: a Mergers and Acquisitions Based Framework," Journal of Management Studies, Wiley Blackwell, vol. 35(5), pages 619-640, September.
    • Handle: RePEc:bla:jomstd:v:35:y:1998:i:5:p:619-640
    DOI: 10.1111/1467-6486.00112
    as

    Download full text from publisher

    File URL: https://doi.org/10.1111/1467-6486.00112
    Download Restriction: no
    File URL: https://libkey.io/10.1111/1467-6486.00112?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Filatotchev, Igor & Wright, Mike & Uhlenbruck, Klaus & Tihanyi, Laszlo & Hoskisson, Robert E., 2003. "Governance, organizational capabilities, and restructuring in transition economies," Journal of World Business, Elsevier, vol. 38(4), pages 331-347, November.
    2. Yuping Zeng & Thomas J. Douglas & Changqi Wu, 2013. "The Seller's Perspective on Determinants of Acquisition Likelihood: Insights from China's Beer Industry," Journal of Management Studies, Wiley Blackwell, vol. 50(4), pages 673-698, June.
    3. Eskil Goldeng & Leo A. Grünfeld & Gabriel R. G. Benito, 2008. "The Performance Differential between Private and State Owned Enterprises: The Roles of Ownership, Management and Market Structure," Journal of Management Studies, Wiley Blackwell, vol. 45(7), pages 1244-1273, November.
    4. Arjen H. L. Slangen & Jean‐François Hennart, 2008. "Do Foreign Greenfields Outperform Foreign Acquisitions or Vice Versa? An Institutional Perspective," Journal of Management Studies, Wiley Blackwell, vol. 45(7), pages 1301-1328, November.
    5. Jun Xia & Xufei Ma & Jane W. Lu & Daphne W. Yiu, 2014. "Outward foreign direct investment by emerging market firms: A resource dependence logic," Strategic Management Journal, Wiley Blackwell, vol. 35(9), pages 1343-1363, September.
    6. Emita W. Astami & Greg Tower & Rusmin Rusmin & John Neilson, 2010. "The effect of privatisation on performance of state‐owned‐enterprises in Indonesia," Asian Review of Accounting, Emerald Group Publishing Limited, vol. 18(1), pages 5-19, May.
    7. Romero-Martínez, Ana M. & Fernández-Rodríguez, Zulima & Vázquez-Inchausti, Elena, 2010. "Exploring corporate entrepreneurship in privatized firms," Journal of World Business, Elsevier, vol. 45(1), pages 2-8, January.
    8. Klaus Uhlenbruck & Klaus E. Meyer & Michael A. Hitt, 2003. "Organizational Transformation in Transition Economies: Resource‐based and Organizational Learning Perspectives," Journal of Management Studies, Wiley Blackwell, vol. 40(2), pages 257-282, March.
    9. Apostolov, Mico, 2010. "Corporate Governance in Macedonia – micro and macro analysis," MPRA Paper 27914, University Library of Munich, Germany.
    10. Lebedev, Sergey & Peng, Mike W. & Xie, En & Stevens, Charles E., 2015. "Mergers and acquisitions in and out of emerging economies," Journal of World Business, Elsevier, vol. 50(4), pages 651-662.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:jomstd:v:35:y:1998:i:5:p:619-640. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: http://www.blackwellpublishing.com/journal.asp?ref=0022-2380 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.