Privatization and corporate restructuring

Paulo Bastos, Natália Monteiro and Odd Rune Straume

No 10/2012, NIPE Working Papers from NIPE - Universidade do Minho

Abstract: We examine corporate restructuring following privatization using uncommonly rich data on the population of Portuguese firms from 1991-2009. We find that privatization leads to sizable job losses, reflecting reductions in both the number of establishments and in the number of workers per establishment. We find no robust evidence of impacts on the structure of the workforce. The estimated job losses following privatization are consistent with a theory in which the shift in ownership increases the degree of profi t orientation and leads to lower job security.

Keywords: Privatization; employment structure; panel data (search for similar items in EconPapers)
JEL-codes: C23 D21 J45 (search for similar items in EconPapers)
Date: 2012
New Economics Papers: this item is included in nep-bec and nep-lab
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