What Factors Determine Auction Prices in Privatization?

• Tác giả: Florencio López-de-Silanes
• Ngôn ngữ: eng
• Ký hiệu phân loại: 338.92 Specific policies
• Thông tin xuất bản: World Bank, Washington, DC, 2012
• Bộ sưu tập: Tài liệu truy cập mở
• ID: 309067
• Chủ đề: 1. AUCTIONS; 3. DENATIONALIZATION; 5. PRICES

Tóm tắt

Do the timing and type of auction affect the sale price? What kind of restructuring is worth doing before privatization? The author examines how much these and other factors affect privatization prices. The study shows that speed and competitive bidding consistently increase sale premiums, but that many restructuring measures such as absorbing debt and improving efficiency do not. The key lesson for policymakers: Don't do too much --just sell.