The Choice of Privatization Method and the Financial Performance of Newly Privatized Firms in Transition Economies

44 Pages Posted: 13 Jan 2003

See all articles by Ranko Jelic

Ranko Jelic

University of Sussex Business School

Richard Briston

University of Hull - Department of Accounting

Wolfgang Aussenegg

Vienna University of Technology

Abstract

There is a gap between the theoretical literature which almost unanimously advocates the privatization of enterprises, as part of the solution to the commitment problem in economies in transition, and the empirical evidence regarding the best way to design a privatization program in order to secure an efficient use of resources. This paper contributes to this debate by focusing on the determinants of the financial long-run performance of privatized firms in Poland, Hungary, and the Czech Republic. This long-run performance is mainly influenced by the extent of retained state ownership, the choice of privatization method, and firm size.

Keywords: Privatization methods, Long-run performance, Central and Eastern European transition economies

JEL Classification: G32, P34, P52

Suggested Citation

Jelic, Ranko and Briston, Richard and Aussenegg, Wolfgang, The Choice of Privatization Method and the Financial Performance of Newly Privatized Firms in Transition Economies. Available at SSRN: https://ssrn.com/abstract=349461 or http://dx.doi.org/10.2139/ssrn.349461

Ranko Jelic (Contact Author)

University of Sussex Business School ( email )

Falmer, Brighton BN1 9SL
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+441273872597 (Phone)

Richard Briston

University of Hull - Department of Accounting ( email )

Filey Road
Scarborough YO11 3AZ
United Kingdom
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Wolfgang Aussenegg

Vienna University of Technology ( email )

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Austria
+43 1 58801 33082 (Phone)
+43 1 58801 33098 (Fax)

HOME PAGE: http://www.imw.tuwien.ac.at/fc/people/wolfgang_aussenegg/

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