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Riforma regolamentare, privatizzazione ed investimenti: un'analisi empirica

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  • Paola Garrone

Abstract

This paper empirically analyses the effects of regulatory reform and new ownership and control patterns on firm-level investments. The sample includes European telecommunication incumbents in the period 1995-2003. When privatization and corporate restructuring programs are taken into account, market structure and regulation result to have a mixed or not significant role. State-owned enterprises are estimated to invest more in their networks due to a looser governance; firms that have been privatized through public offering invest comparatively less, unless managers enjoy some degree of discretion.

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  • Paola Garrone, 2006. "Riforma regolamentare, privatizzazione ed investimenti: un'analisi empirica," L'industria, Società editrice il Mulino, issue 1, pages 145-172.
    • Handle: RePEc:mul:j0hje1:doi:10.1430/21817:y:2006:i:1:p:145-172
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