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Objectives, Techniques and valuation of state-owned companies in privatization processes

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  • José Antonio Gonzalo
  • Vicente Pina
  • Lourdes Torres

Abstract

This article aims to analyse the objectives and the techniques of privatization and the valuation methods applied in the state-owned company privatization processes in order to determine the coherence between the formal privatization objectives stated by governments and the techniques and the valuation methods chosen to carry out the sale of state-owned companies. From the results of an international survey carried out by the International Organization of Supreme Audit Institutions (INTOSAI), we study the privatization practices in three groups of countries: the most developed OECD countries, Eastern European countries and developing countries. While the reasons that have motivated state-owned company privatizations all over the world are quite similar, the techniques of privatization used by these three groups are different with regard to the purpose of the privatization, the ways of carrying it out and the methods of fixing the sale price.

Suggested Citation

  • José Antonio Gonzalo & Vicente Pina & Lourdes Torres, 2003. "Objectives, Techniques and valuation of state-owned companies in privatization processes," Public Management Review, Taylor & Francis Journals, vol. 5(2), pages 177-196, June.
    • Handle: RePEc:taf:pubmgr:v:5:y:2003:i:2:p:177-196
    DOI: 10.1080/1461667032000066408
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    Cited by:

    1. Noemí Peña-Miguel & Beatriz Cuadrado-Ballesteros, 2021. "Effect of privatisation on income inequality: a European analysis," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 48(3), pages 697-716, August.
    2. Kyunghoon Kim, 2018. "Matchmaking: Establishment of state†owned holding companies in Indonesia," Asia and the Pacific Policy Studies, Wiley Blackwell, vol. 5(2), pages 313-330, May.

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