Restructuring in privatised firms:a Statis approach

Adelaide Figueiredo (), Fernanda Figueiredo (), Natália Monteiro and Odd Rune Straume

No 16/2010, NIPE Working Papers from NIPE - Universidade do Minho

Abstract: We analyse the dynamics and evolution of the corporate restructuring process in the Portuguese banking sector, where 10 banks were privatised during the period 1989-1996. We apply a novel methodological approach in this context, using a multidimensional measure of restructuring that links product and labour market variables. We find evidence of considerable heterogeneity in the restructuring process, where firms adjust at different speeds and intensities. We also find that the wage level is by far the firm attribute that changed more, which is shown to reflect substantial changes in terms of composition, and not size, of the workforce. Our empirical evidence also suggests that privatisation is associated with a higher level of rent sharing.

Keywords: Statis; privatisation; Portuguese banking (search for similar items in EconPapers)
JEL-codes: C49 D21 L33 (search for similar items in EconPapers)
Date: 2010
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Related works:
Journal Article: Restructuring in privatised firms: A Statis approach (2012)
Working Paper: Restructuring in privatised firms: a Statis approach (2011)
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