Privatization and Efficiency: Differentiating Ownership Effects from Political, Organizational, and Dynamic Effects

Posted: 22 Dec 2000

See all articles by Belen Villalonga

Belen Villalonga

New York University (NYU) - Leonard N. Stern School of Business

Abstract

This paper argues that the private-public ownership factor should be differentiated from other factors that also influence the effect of privatization on efficiency. This is empirically confirmed in a longitudinal study of 24 Spanish firms, for which several political and organizational factors are found to influence the estimated effects of privatization on efficiency. The analysis of the timing of the effects reveals a strong significance for post-privatization years 5--6 (negative), and 7--8 (positive). This suggests that the negative effect of these factors is transitional, being eventually offset by the positive effects of the change to private ownership.

Keywords: Privatization; Efficiency; Organizational; Change; Panel data

JEL Classification: L33

Suggested Citation

Villalonga, Belen, Privatization and Efficiency: Differentiating Ownership Effects from Political, Organizational, and Dynamic Effects. Available at SSRN: https://ssrn.com/abstract=251357

Belen Villalonga (Contact Author)

New York University (NYU) - Leonard N. Stern School of Business ( email )

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