Post-privatisation ownership concentration: Determinants and influence on firm efficiency

Laura Cabeza-García and Silvia Gómez-Ansón
Authors registered in the RePEc Author Service: Silvia Gómez Ansón

Journal of Comparative Economics, 2011, vol. 39, issue 3, 412-430

Abstract: With this study we aim to contribute to the empirical literature on privatisation processes by analysing the determinants of post-divestment private ownership concentration and its possible link to corporate efficiency. For Spanish firms, we find that the method of privatisation, the type of industry, the company's size and its level of risk may help explain differences in private ownership concentration. We also find, after controlling for endogeneity, that ownership concentrated in the hands of private investors has a positive and significant effect on post-privatisation efficiency.

Keywords: Corporate; governance; Privatisation; Private; ownership; concentration (search for similar items in EconPapers)
Date: 2011
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Citations: View citations in EconPapers (12)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jcecon:v:39:y:2011:i:3:p:412-430

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