Economics at your fingertips  

Is It a Few Days of Good Times and then Darkness Ensues? Long-Term Performance of an Industry after Broad Reforms and Privatisation

Yaseen Ghulam

International Economic Journal, 2018, vol. 32, issue 3, 392-417

Abstract: The long-run financial performances of privatised firms have rarely been investigated. This study examines the financial and operational performance within the Pakistani cement industry utilising two decades of post-privatisation data. Broadly speaking, regression analyses confirm that long-term positive impacts of reforms and privatisation on profitability, output and investment are uncertain. After controlling for firm, industry and economic factors, our estimates show that privatised firms initially improved their profitability but recorded a statistically significant decline over a longer period. The sale efficiency, capacity utilisation, and leverage indicators, however, improved over a considerably long post-ownership change period.

Date: 2018
References: Add references at CitEc
Citations: Track citations by RSS feed

Downloads: (external link) (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:

Ordering information: This journal article can be ordered from

Access Statistics for this article

International Economic Journal is currently edited by Jaymin Lee Editor

More articles in International Economic Journal from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().

Page updated 2019-04-07
Handle: RePEc:taf:intecj:v:32:y:2018:i:3:p:392-417