This paper presents a comprehensive analysis of the preand post-privatization operating performance and stock market performance of privatized banks and rival banks in middleand low-income countries. First, we find that privatization announcements elicit negative abnormal returns for rival banks and that the effects are more pronounced for subsequent tranche sale where the proportion of governm...

Recently, privatization has become very popular worldwide as an efficient means of constructing and operating infrastructure facilities. Like many other countries, Japan also has adopted a policy in favor of privatization, and has privatized several industries. Now, the privatization of expressway projects has become a controversial issue as the Japanese government has begun considering it as o...

Grain marketing arrangements in Australia have been controversial for many years. Following an account of the historical background to grain marketing, this article concentrates on more recent debates. The most interesting technical economic argument concerns the validity of claims that statutory marketing authorities with export monopoly powers can obtain higher prices. The article also discus...

This study addresses the issue of housing privatization in Russia in the course of the1990s. Privatization was started as a first step for creation of housing market in order to efficiently allocate resources in the use and production of housing, as well as to phase out the state budget financing of housing. Unlike the other post-socialist countries where housing was sold to the residents at di...

to rationalize the size of government, act on adjusting a part of government’s financial rules is approved and the government is obliged to assign a part of its activities through (1) services by nonpublic sector, (2) partnership with nonpublic sector, and (3) assigning the management to nonpublic sector. there are many barriers in executing this law. the present study derived from a field stud...

We extend the current empirical literature on privatization by exploring the effect of ultimate privatization on the performance of Chinese listed companies. Ultimate privatization is defined as the incidence of transferring the ultimate control of a state-owned company from the government to private owners. Using a sample of 127 Chinese listed companies that have had controlling blocks transfe...

[no abstract available]