RT info:eu-repo/semantics/workingPaper
T1 Determinants of post-privatisation performance of Spanish divested firms
A1 Cabeza García, Laura
A1 Gómez Ansón, Silvia
A2 Organizacion de Empresa
K1 Economía
K1 Empresas
K1 Finanzas
K1 Privatisation
K1 Performance
K1 Determinants
AB [EN] This paper analyses the factors which may explain the improvements in performance takingplace after privatisations. Using a sample of 58 Spanish privatised firms within the period1985-2000, we find no significant mean increases in industry adjusted profitability andefficiency following privatisation over a medium term horizon (three years), although theresults vary according to the privatised firm. More than 50% of the firms show increases inprofitability and over 45% show increases in efficiency after the first stage of the privatisationprocess. When we analyse how different characteristics of the privatisation processes mayexplain the observed performance changes, the results suggest that competition may play animportant role in the success of privatisation processes. Efficiency gains seem to take place incompetitive markets, not in utilities. The results also suggest some positive influence offactors such as the entrance of foreign investors, the relinquishment of control by the Stateover privatised firms and the firms’ size on the performance of privatised firms.
PB FUNCAS
SN 1988-8767
LK https://hdl.handle.net/10612/20348
UL https://hdl.handle.net/10612/20348
NO Cabeza-García, L., y Gómez Ansón, S. (2007). Determinants of post-privatisation performance of Spaish divested firm. Documentos de Trabajo FUNCAS, 330. https://www.funcas.es/documentos_trabajo/determinants-of-post-privatisation-performance-of-spanish-divested-firms-junio-2007/
DS BULERIA. Repositorio Institucional de la Universidad de León
RD 02-jun-2024