Influencia de la estructura de propiedad en la eficiencia de las privatizaciones empresariales
- Cabeza García, Laura
- Gómez Ansón, Silvia
- Cossío Silva, F. J. (coord.)
Publisher: Escuela Superior de Gestión Comercial y Marketing, ESIC
ISBN: 978-84-7356-609-4
Year of publication: 2009
Congress: Asociación Europea de Dirección y Economía de Empresa. Congreso Nacional (23. 2009. Sevilla)
Type: Conference paper
Abstract
Using a sample of 55 Spanish privatised firms in the period 1985-2003, we analyse whether the identity of the main shareholder influences on post-privatisation firms� performance. After controlling for possible sample selection bias related to the government�s choice of firm method of privatisation, the results suggest that when State is not the main shareholder an improvement in firms� efficiency seems to take place. In addition, the industry competitiveness seems to play an important role in the success of privatisation as post-privatisation improvements take place in competitive sectors.