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Does Privatisation Improve Performance of Industrial Enterprises? Empirical Evidence from Russia

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  • Yurii Perevalov
  • Ilya Gimadii
  • Vladimir Dobrodei

Abstract

This study, based on panel data from 189 industrial enterprises in 1992-96, shows that privatisation 'on average' produces little improvement in performance of Russian enterprises. However, disaggregating the process, we reveal that methods of privatisation do influence performance but the impact is not always positive. The state seems to be a passive shareholder. At the same time, our results suggest that majority state ownership is preferable to a state minority stockholding, possibly because the absence of a monitoring shareholder in the latter case does not permit managers to achieve their own objectives at the expense of other shareholders.

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Bibliographic Info

Article provided by Taylor & Francis Journals in its journal Post-Communist Economies.

Volume (Year): 12 (2000)
Issue (Month): 3 ()
Pages: 337-363

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Handle: RePEc:taf:pocoec:v:12:y:2000:i:3:p:337-363

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Cited by:
  1. Kalbe Abbas & Manzoor Hussain Malik, 2008. "Impact of Financial Liberalisation and Deregulation on Banking Sector in Pakistan," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 47(3), pages 287-313.
  2. Lu, Susan Feng & Dranove, David, 2013. "Profiting from gaizhi: Management buyouts during China’s privatization," Journal of Comparative Economics, Elsevier, vol. 41(2), pages 634-650.
  3. Estrin, Saul & Hanousek, Jan & Svejnar, Jan, 2009. "Effects of Privatization and Ownership in Transition Economies," Policy Research Working Paper Series 4811, The World Bank.

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