Net privatisation prices in Brazil

被引：0

作者：

Santos, Jose Eusebio ^{[1
]}

Andini, Corrado ^{[1
,2
,3
,4
,5
]}

机构：

[1] Univ Madeira, Dept Management & Econ DGE, P-9000390 Funchal, Portugal

[2] Sapienza Univ Rome, Dept Jurid & Econ Studies DSGE, Rome, Italy

[3] Ctr Appl Econ Studies Atlantic CEEAplA, P-9501801 Ponta Delgada, Portugal

[4] Inst Lab Econ IZA, D-53072 Bonn, Germany

[5] Global Lab Org GLO, D-45141 Essen, Germany

来源：

EMERGING MARKETS REVIEW | 2024年 / 60卷

关键词：

Privatisation prices; Restructuring; Ownership concentration; Corporate governance; CORPORATE GOVERNANCE; PRIVATIZATION PRICES; OWNERSHIP; STATE; DETERMINANTS; LESSONS; MODELS; CHOICE; CZECH; COST;

D O I：

10.1016/j.ememar.2024.101143

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

Looking at Brazilian privatisations between 1991 and 2018, we investigate how net privatisation prices react to restructuring policies that are implemented before the sale as well as to private ownership structures that emerge at the sale. We innovate by accounting for restructuring and ownership at the same time and also by exploring a unique dataset that covers 139 transactions, mainly built through fieldwork. The paper provides policymakers with a "do's and don'ts" checklist to extract higher value from the sale. The checklist can be used as a policy guideline for new privatisations in Brazil and potentially in other emerging economies.

引用

页数：25

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