Efficiency of French privatizations: a dynamic vision
AbstractWe interpret privatization in light of corporate governance theory. After replicating some traditional tests, we test our new model on a sample of privatized French firms. We cannot confirm for French privatizations the positive effect on overall static and dynamic efficiency of the firm traditionally attributed to privatizations. In addition, we find that whatever positive value accrues from privatization is affected by the contextual, organizational, governance, and strategic variables that influence the privatization process.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Corporate Finance.
Volume (Year): 10 (2004)
Issue (Month): 3 (June)
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Web page: http://www.elsevier.com/locate/jcorpfin
Other versions of this item:
- Hervé Alexandre & Gérard Charreaux, 2001. "Efficiency of French Privatizations:A Dynamic Vision," Working Papers FARGO 011001, Université de Bourgogne - Crego EA 7317/Fargo (Research center in Finance,organizational ARchitecture and GOvernance), revised Oct 2001.
- Gérard, Charreaux & Alexandre, Hervé, 2004. "Efficiency of French privatizations: a dynamic vision," Economics Papers from University Paris Dauphine 123456789/6090, Paris Dauphine University.
- G30 - Financial Economics - - Corporate Finance and Governance - - - General
- L33 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Comparison of Public and Private Enterprise and Nonprofit Institutions; Privatization; Contracting Out
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