RT info:eu-repo/semantics/workingPaper
T1 Explaining the performance of Spanish privatised firms: a panel data approach
A1 Cabeza García, Laura
A1 Gómez Ansón, Silvia
A2 Organizacion de Empresa
K1 Economía
K1 Empresas
K1 Trabajo
K1 Privatisation
K1 Performance
K1 Determinants
K1 Panel data
AB [EN] Using a panel data of 70 Spanish privatised firms, we study whether the shares held in thedivested firms’ capital by employees, managers and the State, the nationality of the buyer, theeconomic environment, as well as the firms’ size, may explain the performance of privatisedfirms. The results suggest that firms in which the State completely relinquishes control havemore probabilities of maximizing efficiency. Besides, the entrance of foreign investors in thefirms’ capital may provide firms with new know-how and access to new technologies andmarkets that may also improve the success of privatisations processes. Moreover, the resultssuggest that privatisations of SOEs per se may not be sufficient to improve their performance,since privatisations that are accompanied by liberalisation programs and competition turn outto be more successful. Finally, these results are in general terms the same both for firmsprivatised through direct sale and public offering.
PB FUNCAS
SN 1988-8767
LK https://hdl.handle.net/10612/20345
UL https://hdl.handle.net/10612/20345
NO Cabeza-García, L., y Gómez Ansón, S. (2008). Explaining the performance of Spanish privatised firm: a panel data approach. Documentos de Trabajo FUNCAS, 397. https://www.funcas.es/documentos_trabajo/explaining-the-performance-of-spanish-privatised-firms-a-panel-data-approach-mayo-2008/
DS BULERIA. Repositorio Institucional de la Universidad de León
RD 02-jun-2024