Evolution of Mass Privatization in Bulgaria
AbstractThe mass privatization (MP) program in Bulgaria was implemented in 1996â1997. Following programs in countries like the Czech Republic, more sophisticated regulatory bodies were put into place to prevent the kind of abuses observed elsewhere. This study finds that Bulgaria avoided some of the extreme problems that manifested themselves in these other countries, but there were still serious problems of dilution of shareholder value. We find that dilution in Bulgaria is similar in both MP firms and non-MP firms. After a number of years have passed, MP firms have performed better than firms privatized by other means or firms that were never privatized.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by University of Delaware, Department of Economics in its series Working Papers with number 06-10.
Length: 11 pages
Date of creation: 2006
Date of revision:
Contact details of provider:
Postal: Purnell Hall, Newark, Delaware 19716
Phone: (302) 831-2565
Fax: (302) 831-6968
Web page: http://www.lerner.udel.edu/departments/economics/department-economics/
More information through EDIRC
Bulgaria; mass privatization; dilution;
Other versions of this item:
- P5 - Economic Systems - - Comparative Economic Systems
- P3 - Economic Systems - - Socialist Institutions and Their Transitions
- G3 - Financial Economics - - Corporate Finance and Governance
This paper has been announced in the following NEP Reports:
- NEP-ALL-2007-04-21 (All new papers)
- NEP-HIS-2007-04-21 (Business, Economic & Financial History)
- NEP-PBE-2007-04-21 (Public Economics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Vladimir Atanasov & Conrad S. Ciccotello & Stanley B. Gyoshev, 2005. "How Does Law Affect Finance? An Empirical Examination of Tunneling in an Emerging Market," William Davidson Institute Working Papers Series wp742, William Davidson Institute at the University of Michigan.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Saul Hoffman).
If references are entirely missing, you can add them using this form.