Staged privatization: transforming state-owned enterprises into market-based firms
Most privatizations around the world, especially in developed economies, are staged processes involving multiple stages of share lockup and unlocking in the stock market. This paper proposes a theory on staged or step-by-step privatization. We show that such an approach is efficient, in the sense th...
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| Format: | Article |
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Mohr Siebeck
2016
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| Online Access: | https://eprints.nottingham.ac.uk/50064/ |
| _version_ | 1848798143654658048 |
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| author | Jiang, Kun Wang, Susheng |
| author_facet | Jiang, Kun Wang, Susheng |
| author_sort | Jiang, Kun |
| building | Nottingham Research Data Repository |
| collection | Online Access |
| description | Most privatizations around the world, especially in developed economies, are staged processes involving multiple stages of share lockup and unlocking in the stock market. This paper proposes a theory on staged or step-by-step privatization. We show that such an approach is efficient, in the sense that it can successfully transform state-owned enterprises into efficient market-based firms. Our theory explains the popularity of staged privatizations around the world. We have also conducted empirical analysis, yielding supporting evidence for our theory. |
| first_indexed | 2025-11-14T20:15:05Z |
| format | Article |
| id | nottingham-50064 |
| institution | University of Nottingham Malaysia Campus |
| institution_category | Local University |
| last_indexed | 2025-11-14T20:15:05Z |
| publishDate | 2016 |
| publisher | Mohr Siebeck |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | nottingham-500642020-05-04T18:18:43Z https://eprints.nottingham.ac.uk/50064/ Staged privatization: transforming state-owned enterprises into market-based firms Jiang, Kun Wang, Susheng Most privatizations around the world, especially in developed economies, are staged processes involving multiple stages of share lockup and unlocking in the stock market. This paper proposes a theory on staged or step-by-step privatization. We show that such an approach is efficient, in the sense that it can successfully transform state-owned enterprises into efficient market-based firms. Our theory explains the popularity of staged privatizations around the world. We have also conducted empirical analysis, yielding supporting evidence for our theory. Mohr Siebeck 2016-12-01 Article PeerReviewed Jiang, Kun and Wang, Susheng (2016) Staged privatization: transforming state-owned enterprises into market-based firms. Journal of Institutional and Theoretical Economics JITE, 172 (4). pp. 694-726. ISSN 0932-4569 staged privatization lockup policy tradable shares nontradable shares http://www.ingentaconnect.com/content/mohr/jite/2016/00000172/00000004/art00006 doi:10.1628/093245616X14618208477844 doi:10.1628/093245616X14618208477844 |
| spellingShingle | staged privatization lockup policy tradable shares nontradable shares Jiang, Kun Wang, Susheng Staged privatization: transforming state-owned enterprises into market-based firms |
| title | Staged privatization: transforming state-owned enterprises into market-based firms |
| title_full | Staged privatization: transforming state-owned enterprises into market-based firms |
| title_fullStr | Staged privatization: transforming state-owned enterprises into market-based firms |
| title_full_unstemmed | Staged privatization: transforming state-owned enterprises into market-based firms |
| title_short | Staged privatization: transforming state-owned enterprises into market-based firms |
| title_sort | staged privatization: transforming state-owned enterprises into market-based firms |
| topic | staged privatization lockup policy tradable shares nontradable shares |
| url | https://eprints.nottingham.ac.uk/50064/ https://eprints.nottingham.ac.uk/50064/ https://eprints.nottingham.ac.uk/50064/ |