Are Rushed Privatizations Substandard? Analyzing Firm-Level Privatization under Fiscal Pressure

Arbeitspapier

In this paper we provide the first analysis of whether rushed privatizations, usually carried out under fiscal duress, increase or decrease firms' efficiency, scale of operation (size) and employment. Using a large panel of firm-level data from Poland over 1995-2015, we show that rushed privatization has negative efficiency, scale and employment effects relative to non-rush privatization. The negative effect of rushed privatization on the scale of operations and employment is even stronger than its negative effect on efficiency. Our results suggest that when policy makers resort to rushed privatization, they ought to weigh these negative effects against other expected effects (e.g. on fiscal revenue).

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: IZA Discussion Papers ; No. 11517

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Other Economic Systems: International Trade, Finance, Investment and Aid ; Comparative Studies of Particular Economies ; Semiparametric and Nonparametric Methods: General ; Economic Development: Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
• Thema: privatization ; rushed privatization ; efficiency ; firm size ; employment ; performance

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Hagemeier, Jan ; Svejnar, Jan ; Tyrowicz, Joanna
• Ereignis: Veröffentlichung
• (wer): Institute of Labor Economics (IZA)
• (wo): Bonn
• (wann): 2018

Weitere Informationen

• Handle: http://hdl.handle.net/10419/180535
• Letzte Aktualisierung: 10.03.2025, 11:44 MEZ