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The Decision to Privatize: Finance and Politics

Citations

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Cited by:

  1. Piotroski, Joseph D. & Zhang, Tianyu, 2014. "Politicians and the IPO decision: The impact of impending political promotions on IPO activity in China," Journal of Financial Economics, Elsevier, vol. 111(1), pages 111-136.
  2. Marianne Bertrand & Francis Kramarz & Antoinette Schoar & David Thesmar, 2018. "The Cost of Political Connections," Review of Finance, European Finance Association, vol. 22(3), pages 849-876.
  3. Ding, Xiaoya & Guedhami, Omrane & Ni, Yang & Pittman, Jeffrey A., 2020. "Local and foreign institutional investors, information asymmetries, and state ownership," Pacific-Basin Finance Journal, Elsevier, vol. 63(C).
  4. Kang, Shulong & Dong, Jianfeng & Yu, Haiyue & Cao, Jin & Dinger, Valeriya, 2021. "City commercial banks and credit allocation : Firm-level evidence," BOFIT Discussion Papers 4/2021, Bank of Finland, Institute for Economies in Transition.
  5. Huang, Zhangkai & Li, Lixing & Ma, Guangrong & Qian, Jun, 2021. "The reversal of privatization in China: A political economy perspective," Journal of Corporate Finance, Elsevier, vol. 71(C).
  6. Estrin, Saul & Pelletier, Adeline, 2018. "Privatization in developing countries: what are the lessons of recent experience?," LSE Research Online Documents on Economics 87348, London School of Economics and Political Science, LSE Library.
  7. Bortolotti, Bernardo & Cambini, Carlo & Rondi, Laura, 2013. "Reluctant regulation," Journal of Comparative Economics, Elsevier, vol. 41(3), pages 804-828.
  8. Aleksandar Andonov & Roman Kräussl & Joshua Rauh & Stijn Van Nieuwerburgh, 2021. "Institutional Investors and Infrastructure Investing [Pension fund asset allocation and liability discount rates]," Review of Financial Studies, Society for Financial Studies, vol. 34(8), pages 3880-3934.
  9. Aleksandar Andonov & Roman Kräussl & Joshua Rauh, 2018. "The Subsidy to Infrastructure as an Asset Class," NBER Working Papers 25045, National Bureau of Economic Research, Inc.
  10. Knyazeva, Anzhela & Knyazeva, Diana & Stiglitz, Joseph E., 2013. "Ownership change, institutional development and performance," Journal of Banking & Finance, Elsevier, vol. 37(7), pages 2605-2627.
  11. Quan Cheng & Alex Ng, 2023. "Achieving stability and prosperity: The Chinese way," Palgrave Communications, Palgrave Macmillan, vol. 10(1), pages 1-15, December.
  12. Natalie Bau & Adrien Matray, 2020. "Misallocation and Capital Market Integration: Evidence from India," Working Papers 263, Princeton University, Department of Economics, Center for Economic Policy Studies..
  13. Ghosh, Saibal, 2022. "Elections and provisioning behavior: Assessing the Indian evidence," Economic Systems, Elsevier, vol. 46(1).
  14. MVK, Jagannath & Maitra, Debasish, 2023. "Do election cycles, political stability, and government effectiveness matter for the risk of banks? Evidence from Indian banks," Journal of Behavioral and Experimental Finance, Elsevier, vol. 39(C).
  15. Anya Kleymenova & Rimmy E. Tomy, 2022. "Observing Enforcement: Evidence from Banking," Journal of Accounting Research, Wiley Blackwell, vol. 60(4), pages 1583-1633, September.
  16. Natalie Bau & Adrien Matray, 2023. "Misallocation and Capital Market Integration: Evidence From India," Econometrica, Econometric Society, vol. 91(1), pages 67-106, January.
  17. Matray, Adrien, 2020. "Misallocation and Capital Market Integration: Evidence From India," CEPR Discussion Papers 14282, C.E.P.R. Discussion Papers.
  18. Dam, Lammertjan & Koetter, Michael, 2011. "Bank bailouts, interventions, and moral hazard," Discussion Paper Series 2: Banking and Financial Studies 2011,10, Deutsche Bundesbank.
  19. Danglun Luo & Naqiong Tong & Guoman She, 2017. "City‐level political uncertainty and city‐level IPO activities," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 57(5), pages 1447-1480, December.
  20. Sergio Mariotti & Riccardo Marzano, 2019. "Varieties of capitalism and the internationalization of state-owned enterprises," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 50(5), pages 669-691, July.
  21. Allen, Franklin & Shan, Susan Chenyu & Qian, Jun & Zhao, Mengxin, 2011. "The IPO of Industrial and Commercial Bank of China and the 'Chinese Model' of Privatizing Large Financial Institutions," Working Papers 11-63, University of Pennsylvania, Wharton School, Weiss Center.
  22. Francesco Di Comite & Thomas Lambert, 2020. "Reforming Finance Under Fragmented Governments," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 62(1), pages 105-148, March.
  23. Halling, Michael & Pichler, Pegaret & Stomper, Alex, 2016. "The Politics of Related Lending," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 51(1), pages 333-358, February.
  24. Holland, Kateryna, 2019. "Government investment in publicly traded firms," Journal of Corporate Finance, Elsevier, vol. 56(C), pages 319-342.
  25. Marcin Senderski, 2015. "Inhibited privatization: a hurdle race over vested interests," European Journal of Government and Economics, Europa Grande, vol. 4(1), pages 46-66, June.
  26. repec:fip:fedhpr:y:2011:i:may:p:299-326 is not listed on IDEAS
  27. Borisova, Ginka & Cowan, Arnold R., 2014. "Government asset sales, economic nationalism, and acquirer wealth effects," Journal of Corporate Finance, Elsevier, vol. 29(C), pages 351-368.
  28. Quaresima, Federico, 2019. "Patronage Appointments between Politics and Public Governance: a Review," MPRA Paper 94650, University Library of Munich, Germany.
  29. He, Qing & Li, Xiaoyang, 2020. "The failure of Chinese peer-to-peer lending platforms: Finance and politics," BOFIT Discussion Papers 27/2020, Bank of Finland Institute for Emerging Economies (BOFIT).
  30. Saibal Ghosh, 2023. "Political connections and bank behaviour," Economic Notes, Banca Monte dei Paschi di Siena SpA, vol. 52(1), February.
  31. Jan Hagemejer & Joanna Tyrowicz, 2020. "A New Instrument for Measuring the Local Causal Effect of Privatisation on Firm Performance," Gospodarka Narodowa. The Polish Journal of Economics, Warsaw School of Economics, issue 3, pages 35-52.
  32. Meghana Ayyagari & Asli Demirguc-Kunt & Vojislav Maksimovic, 2021. "Are large firms born or made? Evidence from developing countries," Small Business Economics, Springer, vol. 57(1), pages 191-219, June.
  33. Boubakri, Narjess & Cosset, Jean-Claude & Saffar, Walid, 2017. "The constraints on full privatization: International evidence," Journal of Corporate Finance, Elsevier, vol. 42(C), pages 392-407.
  34. José Renato Haas Ornelas & Alvaro Pedraza & Claudia Ruiz-Ortega & Thiago Christiano Silva, 2021. "Credit Allocation When Private Banks Distribute Government Loans," Working Papers Series 548, Central Bank of Brazil, Research Department.
  35. Liu, Wai-Man & Ngo, Phong T.H., 2014. "Elections, political competition and bank failure," Journal of Financial Economics, Elsevier, vol. 112(2), pages 251-268.
  36. Chernykh, Lucy, 2011. "Profit or politics? Understanding renationalizations in Russia," Journal of Corporate Finance, Elsevier, vol. 17(5), pages 1237-1253.
  37. Saffar, Walid, 2014. "The political economy of share issue privatization: International evidence," Journal of Multinational Financial Management, Elsevier, vol. 24(C), pages 1-18.
  38. Xu, Cheng-Gang & Gan, Jie & Guo, Yan, 2015. "China?s Decentralized Privatization and Change of Control Rights," CEPR Discussion Papers 10331, C.E.P.R. Discussion Papers.
  39. Svejnar, Jan & Hagemejer, Jan & Tyrowicz, Joanna, 2018. "Are Rushed Privatizations Substandard? Analyzing Firm-level Privatization under Fiscal Pressure," CEPR Discussion Papers 12991, C.E.P.R. Discussion Papers.
  40. Jun Du & Xiaoxuan Liu, 2015. "Selection, Staging and Sequencing in the Recent Chinese Privatization," Journal of Law and Economics, University of Chicago Press, vol. 58(3).
  41. Li, Hong, 2019. "Direct overseas listing versus cross-listing: A multivalued treatment effects analysis of Chinese listed firms," International Review of Financial Analysis, Elsevier, vol. 66(C).
  42. Marzano, Riccardo, 2015. "One more ride on the merry-go-round! Public ownership and delayed competition in local public services," Journal of Comparative Economics, Elsevier, vol. 43(4), pages 981-996.
  43. Hennicke, Moritz & Lubczyk, Moritz & Mergele, Lukas, 2020. "The big sell: Privatizing East Germany's economy," ZEW Discussion Papers 20-043, ZEW - Leibniz Centre for European Economic Research.
  44. Boubakri, Narjess & Cosset, Jean-Claude & Guedhami, Omrane & Saffar, Walid, 2011. "The political economy of residual state ownership in privatized firms: Evidence from emerging markets," Journal of Corporate Finance, Elsevier, vol. 17(2), pages 244-258, April.
  45. Edgardo Cayón, 2014. "The Effects of Contagion During the Global Financial Crisis in Government-Regulated and Sponsored Assets in Emerging Markets," PhD Thesis, Finance Discipline Group, UTS Business School, University of Technology, Sydney, number 3-2014.
  46. Ben-Nasr, Hamdi, 2016. "Labor protection and government control: Evidence from privatized firms," Economic Modelling, Elsevier, vol. 52(PB), pages 485-498.
  47. Prachi Mishra & Nagpurnanand Prabhala & Raghuram G Rajan, 2022. "The Relationship Dilemma: Why Do Banks Differ in the Pace at Which They Adopt New Technology?," The Review of Financial Studies, Society for Financial Studies, vol. 35(7), pages 3418-3466.
  48. Saibal Ghosh, 2020. "Bank Lending and Monetary Transmission: Does Politics Matter?," Journal of Quantitative Economics, Springer;The Indian Econometric Society (TIES), vol. 18(2), pages 359-381, June.
  49. Luca Pareschi & Edoardo Mollona, 2016. "No country for neoliberalism: a topic modeling approach to protean discourses to resist privatizations in Italy," Working Papers 7, Department of Management, Università Ca' Foscari Venezia.
  50. He, Qing & Li, Xiaoyang, 2021. "The failure of Chinese peer-to-peer lending platforms: Finance and politics," Journal of Corporate Finance, Elsevier, vol. 66(C).
  51. Anusha Chari & Peter Blair Henry & Hector Reyes, 2021. "The Baker Hypothesis: Stabilization, Structural Reforms, and Economic Growth," Journal of Economic Perspectives, American Economic Association, vol. 35(3), pages 83-108, Summer.
  52. Xie, Feng & Anderson, Hamish D. & Chi, Jing & Liao, Jing, 2019. "Does residual state ownership increase stock return volatility? Evidence from China's secondary privatization," Journal of Banking & Finance, Elsevier, vol. 100(C), pages 234-251.
  53. Radu Ciobanu & Mircea Bahna, 2015. "The Social, Cultural and Political Factors that Influence the Level of Mergers and Acquisitions," International Journal of Academic Research in Accounting, Finance and Management Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences, vol. 5(3), pages 33-41, July.
  54. Brown, David J. & Earle, John S. & Telegdy, Almos, 2016. "Where does privatization work? Understanding the heterogeneity in estimated firm performance effects," Journal of Corporate Finance, Elsevier, vol. 41(C), pages 329-362.
  55. Estrin, Saul & Pelletier, Adeline, 2016. "Privatisation in Developing Countries: What Are the Lessons of Recent Experience?," IZA Discussion Papers 10297, Institute of Labor Economics (IZA).
  56. Kang, Shulong & Dong, Jianfeng & Yu, Haiyue & Cao, Jin & Dinger, Valeriya, 2021. "City commercial banks and credit allocation: Firm-level evidence," BOFIT Discussion Papers 4/2021, Bank of Finland Institute for Emerging Economies (BOFIT).
  57. Liao, Jing & Malone, Chris & Young, Martin, 2016. "Politicians, insiders and non-tradable share reform decisions in China," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 43(C), pages 58-73.
  58. Ritika Jain, 2022. "State Ownership and Dividend Decisions: Economic Versus Political Determinants," Journal of Quantitative Economics, Springer;The Indian Econometric Society (TIES), vol. 20(1), pages 23-42, March.
  59. D'Souza, Juliet & Nash, Robert, 2017. "Private benefits of public control: Evidence of political and economic benefits of state ownership," Journal of Corporate Finance, Elsevier, vol. 46(C), pages 232-247.
  60. Saibal Ghosh, 2022. "Financing obstacles for SMEs: the role of politics," Journal of Global Entrepreneurship Research, Springer;UNESCO Chair in Entrepreneurship, vol. 12(1), pages 329-340, December.
  61. Neeru Chaudhry & Chris Veld, 2023. "Political uncertainty and investments by private and state‐owned enterprises," International Review of Finance, International Review of Finance Ltd., vol. 23(3), pages 584-614, September.
  62. He, Qing & Li, Xiaoyang, 2020. "The failure of Chinese peer-to-peer lending platforms : Finance and politics," BOFIT Discussion Papers 27/2020, Bank of Finland, Institute for Economies in Transition.
  63. repec:zbw:bofitp:2020_027 is not listed on IDEAS
  64. Tan, Yongxian & Tian, Xuan & Zhang, Xinde & Zhao, Hailong, 2020. "The real effect of partial privatization on corporate innovation: Evidence from China's split share structure reform," Journal of Corporate Finance, Elsevier, vol. 64(C).
  65. Gouett, Matthew, 2020. "New wealth, New wisdom: Updating the narrative of sovereign wealth fund creation," Resources Policy, Elsevier, vol. 65(C).
  66. Saibal Ghosh, 2018. "Electoral Cycles and Project Outcomes," Journal of Quantitative Economics, Springer;The Indian Econometric Society (TIES), vol. 16(2), pages 527-552, June.
  67. Del Bo, Chiara D. & Ferraris, Matteo & Florio, Massimo, 2017. "Governments in the market for corporate control: Evidence from M&A deals involving state-owned enterprises," Journal of Comparative Economics, Elsevier, vol. 45(1), pages 89-109.
  68. Yuyu Chen & Mitsuru Igami & Masayuki Sawada & Mo Xiao, 2021. "Privatization and productivity in China," RAND Journal of Economics, RAND Corporation, vol. 52(4), pages 884-916, December.
  69. Belkhir, Mohamed & Ben-Nasr, Hamdi, 2016. "Labor protection and the privatization or partial privatization method," International Review of Economics & Finance, Elsevier, vol. 44(C), pages 305-322.
  70. Cosset, Jean-Claude & Durnev, Art & Oliveira dos Santos, Igor, 2020. "Privatization and state ownership of natural advantage industries," The Quarterly Review of Economics and Finance, Elsevier, vol. 76(C), pages 68-83.
  71. Bradley, Daniel & Pantzalis, Christos & Yuan, Xiaojing, 2016. "The influence of political bias in state pension funds," Journal of Financial Economics, Elsevier, vol. 119(1), pages 69-91.
  72. Boubakri, Narjess & Guedhami, Omrane & Mishra, Dev & Saffar, Walid, 2012. "Political connections and the cost of equity capital," Journal of Corporate Finance, Elsevier, vol. 18(3), pages 541-559.
  73. Priya Mandiratta & G.S. Bhalla, 2017. "Pre and Post Disinvestment Performance Evaluation of Indian CPSEs," Management and Labour Studies, XLRI Jamshedpur, School of Business Management & Human Resources, vol. 42(2), pages 120-134, May.
  74. repec:zbw:bofitp:2021_004 is not listed on IDEAS
  75. Senderski, Marcin, 2015. "Inhibited privatization: a hurdle race over vested interests," MPRA Paper 65482, University Library of Munich, Germany.
  76. Boubakri, Narjess & Guedhami, Omrane & Saffar, Walid, 2016. "Geographic location, foreign ownership, and cost of equity capital: Evidence from privatization," Journal of Corporate Finance, Elsevier, vol. 38(C), pages 363-381.
  77. Edgardo Cayón, 2014. "The Effects of Contagion During the Global Financial Crisis in Government-Regulated and Sponsored Assets in Emerging Markets," PhD Thesis, Finance Discipline Group, UTS Business School, University of Technology, Sydney, number 30, July-Dece.
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