Government Control of Privatized Firms

By Bernardo Bortolotti, Mara Faccio. 2009

327 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics

View Paper: https://www.semanticscholar.org/paper/aa0600dcc391d0b1c8b86f2842745c635079062a

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Citations in the corpus

Theories of the (state-owned) firm (2016, background): “…SOEs since in developed economies (specifically, OECD members), where privatization is supposed to have the least political resistance and where markets are the most advanced, the state still retains control of nearly twothirds of the so-called Bprivatized^ firms (Bortolotti & Faccio, 2009: 2907).”
Government ownership and corporate governance: Evidence from the EU. (2012, unknown): “First, a large number of firms in the EU have significant government participation (Bortolotti and Faccio, 2009).”
Does Government Ownership Affect the Cost of Debt? Evidence from Privatization (2011, unknown): “Although Bortolotti and Faccio (2009) intriguingly consider ultimate government con trol by tracking all indirect state holdings in a firm, the more widely publicized direct ownership serves the current analysis in which government guarantees and investor perception are key components.”
Incentive regulation and investment: evidence from European energy utilities (2010, methodology): “Incentive regulation is currently in place in Italy, Spain and UK, mostly in the form of revenue caps, but Italy and Spain switched 7 Bortolotti and Faccio (2008) show that, as of 2000, governments controlled 62,4% of privatized firms.”
The Role of State and Foreign Owners in Corporate Risk-Taking: Evidence from Privatization (2013, unknown): “(2005) with a sample of 209 firms from 39 countries, Guedhami and Pittman (2006) with a sample of 190 firms from 31 countries, Bortolotti and Faccio (2009) with a sample of 141 firms from 22 countries, and Guedhami et al.”
Do state and foreign ownership affect investment efficiency? Evidence from privatizations (2017, unknown): “(2009) and Boubakri et al. (2013) to use a sample of 506 firms privatized in 64 countries over the 1981 to 2008 period—the largest sample of privatized firms to date.”
State ownership reinvented? Explaining performance differences between state‐owned and private firms (2018, unknown): “…literature examines what happened after those reforms, showing that governments all around the world kept equity stakes in a large number of SOEs for strategic and political reasons (Bortolotti & Faccio, 2009; Boubakri et al., 2011; Bruton et al., 2015; Christiansen, 2011; Musacchio et al., 2015).”
Leviathan in Business: Varieties of State Capitalism and Their Implications for Economic Performance (2012, unknown): “Bortolotti and Faccio‘s (2009) survey of SOEs in OECD countries reveals that, despite strenuous efforts to privatize, governments were still controlling a large share of the privatized firms.”
Institutional Investors, Political Connections, and the Incidence of Regulatory Enforcement Against Corporate Fraud (2014, background): “Following La Porta et al. (1999) and Bortolotti and Faccio (2009), we trace the identity of the largest shareholders to the ultimate owner.”