EconPapers    
Economics at your fingertips  
 

Privatization: public offerings and political objectives

Germà Bel ()

Applied Economics, 2002, vol. 34, issue 11, 1421-1432

Abstract: This paper empirically analyses the political and economic objectives underlying privatization on the stock market. Particularly, the factors of SIPs underpricing, are explained, and the study analyses whether the change of political parties in government play a role on the issue. The paper has two main findings. First, larger initial returns occurred in the early stages of privatization. Second, the change of government from left-wing to right-wing did not lead to significantly higher levels of underpricing. The results show that governments are quite pragmatic with respect to underpricing: maximizing proceeds from SIPs shows to be more important than ideological differences between parties in government.

Date: 2002
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6) Track citations by RSS feed

Downloads: (external link)
http://www.tandfonline.com/doi/abs/10.1080/00036840110100826 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:taf:applec:v:34:y:2002:i:11:p:1421-1432

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/RAEC20

Access Statistics for this article

Applied Economics is currently edited by Anita Phillips

More articles in Applied Economics from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().

 
Page updated 2020-01-06
Handle: RePEc:taf:applec:v:34:y:2002:i:11:p:1421-1432