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Post-privatisation ownership concentration: Determinants and influence on firm efficiency

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  • Cabeza-García, Laura
  • Gómez-Ansón, Silvia

Abstract

With this study we aim to contribute to the empirical literature on privatisation processes by analysing the determinants of post-divestment private ownership concentration and its possible link to corporate efficiency. For Spanish firms, we find that the method of privatisation, the type of industry, the company's size and its level of risk may help explain differences in private ownership concentration. We also find, after controlling for endogeneity, that ownership concentrated in the hands of private investors has a positive and significant effect on post-privatisation efficiency.

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Bibliographic Info

Article provided by Elsevier in its journal Journal of Comparative Economics.

Volume (Year): 39 (2011)
Issue (Month): 3 (September)
Pages: 412-430

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Handle: RePEc:eee:jcecon:v:39:y:2011:i:3:p:412-430

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Web page: http://www.elsevier.com/locate/inca/622864

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Keywords: Corporate governance Privatisation Private ownership concentration;

References

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Cited by:
  1. Hsu, Su-Ying & Lo, Chu-Ping & Wu, Shih-Jye, 2014. "The nexus of market concentration and privatization policy in mixed oligopoly," Economic Modelling, Elsevier, vol. 38(C), pages 196-203.

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