کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
5083322 | 1477798 | 2016 | 47 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Labor protection and the privatization or partial privatization method
ترجمه فارسی عنوان
حفاظت از کار و خصوصی سازی یا روش خصوصی سازی جزئی
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کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
چکیده انگلیسی
In this paper, we examine whether the extent to which the labor force is legally protected impacts the choice of whether to privatize SOEs through share issues in the public stock exchange or through asset sales to a small group of investors. Based on a sample of 3983 privatizations, which occurred from 1989 through 2008 in 55 countries, and using various measures of labor protection, we find that greater labor protection enhances the likelihood of share issue privatizations (SIPs). This result is robust to controls for political, legal, and economic factors and suggests that legally protected labor acquires enough power to be able to influence a government's choice of the privatization method. We also provide evidence that the positive effect of labor protection on the likelihood of SIPs is stronger (weaker) in countries where investors enjoy better (worse) legal protection, financial systems are more (less) developed, and when foreign investors are involved in the privatization offer.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: International Review of Economics & Finance - Volume 44, July 2016, Pages 305-322
Journal: International Review of Economics & Finance - Volume 44, July 2016, Pages 305-322
نویسندگان
Mohamed Belkhir, Hamdi Ben-Nasr,