Publication:
Privatization and Corporate Governance : Principles, Evidence, and Future Challenges

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dc.contributor.authorDyck, Alexander
dc.date.accessioned2014-02-20T22:54:41Z
dc.date.available2014-02-20T22:54:41Z
dc.date.issued2001-04
dc.description.abstractUnless developing countries embrace a corporate governance perspective, privatization is unlikely to provide the benefits of improved performance with accountability. This article introduces the concept of governance chains that can constrain the grabbing hands of public and private actors by providing information and accountability mechanisms to help investors monitor managers. Empirical data on established firms from 49 countries provide estimates of the relative importance and strength of private and formal chains of governance. The framework and empirical benchmarks help explain the outcomes of past privatizations and suggest certain steps that governments can pursue to be sure to get the most out of future privatization activity.en
dc.identifierhttp://documents.worldbank.org/curated/en/2001/03/17580028/privatization-corporate-governance-principles-evidence-future-challenges
dc.identifier.citationWorld Bank Research Observer
dc.identifier.doi10.1596/17129
dc.identifier.urihttps://hdl.handle.net/10986/17129
dc.languageEnglish
dc.language.isoen_US
dc.publisherWashington, DC: World Bank
dc.relation.ispartofseriesWorld Bank Research Observer
dc.rightsCC BY-NC-ND 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/3.0/igo/
dc.subjectACCESS TO INFORMATION
dc.subjectACCOUNTABILITY
dc.subjectACCOUNTABILITY MECHANISMS
dc.subjectACCOUNTING
dc.subjectACCOUNTING PRACTICES
dc.subjectAGENCY PROBLEMS
dc.subjectASSET SALES
dc.subjectAUCTIONS
dc.subjectAUDITING
dc.subjectAUTHORITY
dc.subjectBANKING SYSTEMS
dc.subjectBANKRUPTCY
dc.subjectBANKRUPTCY LAWS
dc.subjectBANKRUPTCY PROCEEDINGS
dc.subjectBANKS
dc.subjectBID
dc.subjectBOARDS OF DIRECTORS
dc.subjectBOND
dc.subjectBROKERAGE
dc.subjectBROKERAGE FIRMS
dc.subjectBROKERAGE HOUSES
dc.subjectBUSINESS ENVIRONMENT
dc.subjectBUSINESS LICENSES
dc.subjectCASH FLOW
dc.subjectCIVIL LAW
dc.subjectCOMMON LAW
dc.subjectCONFLICTS OF INTEREST
dc.subjectCONTRACT ENFORCEMENT
dc.subjectCONTRACT REPUDIATION
dc.subjectCORPORATE GOVERNANCE
dc.subjectCORPORATE LAWS
dc.subjectCORPORATE PERFORMANCE
dc.subjectCORRUPTION
dc.subjectCREDIBILITY
dc.subjectCREDIT-RATING AGENCIES
dc.subjectCREDITORS
dc.subjectCURRENCY
dc.subjectCUSTOMER BASE
dc.subjectDEBT
dc.subjectDECISION MAKING
dc.subjectDECISION-MAKING
dc.subjectDECISION-MAKING POWER
dc.subjectDEPOSITORY
dc.subjectDEVELOPING COUNTRIES
dc.subjectDEVELOPING ECONOMIES
dc.subjectDISCLOSURE LAWS
dc.subjectDIVIDEND
dc.subjectDIVIDEND POLICIES
dc.subjectDIVIDENDS
dc.subjectDOMESTIC EXCHANGES
dc.subjectDOMESTIC INVESTOR
dc.subjectECONOMIC POWER
dc.subjectEFFECTIVE GOVERNANCE
dc.subjectEMERGING MARKETS
dc.subjectENTREPRENEURSHIP
dc.subjectEQUITY INVESTORS
dc.subjectEQUITY MARKETS
dc.subjectEQUITY RETURNS
dc.subjectEXCHANGE COMMISSION
dc.subjectEXTERNAL FINANCE
dc.subjectFEDERAL GOVERNMENT
dc.subjectFINANCIAL CRISIS
dc.subjectFINANCIAL INFORMATION
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectFINANCIAL INTERMEDIARIES
dc.subjectFINANCIAL PERFORMANCE
dc.subjectFINANCIAL RETURNS
dc.subjectFINANCIAL SYSTEM
dc.subjectFINANCIER
dc.subjectFIRM ASSETS
dc.subjectFLOW OF INFORMATION
dc.subjectFOREIGN EXCHANGE
dc.subjectFOREIGN EXCHANGES
dc.subjectFOREIGN FIRMS
dc.subjectFOREIGN INVESTOR
dc.subjectFOREIGN INVESTORS
dc.subjectFOREIGN OWNERSHIP
dc.subjectFOREIGN STOCK
dc.subjectFORMAL ECONOMY
dc.subjectFORMAL INSTITUTIONS
dc.subjectFUND MANAGERS
dc.subjectFUTURE GROWTH
dc.subjectFUTURE PROSPECTS
dc.subjectGOVERNANCE MEASURES
dc.subjectGOVERNANCE MECHANISM
dc.subjectGOVERNANCE MECHANISMS
dc.subjectGOVERNMENT OFFICIALS
dc.subjectGOVERNMENT REGULATIONS
dc.subjectGOVERNMENT SERVICES
dc.subjectGROSS DOMESTIC PRODUCT
dc.subjectGROWTH RATES
dc.subjectHEDGE FUNDS
dc.subjectHOLDING
dc.subjectHOME COUNTRIES
dc.subjectHOME COUNTRY
dc.subjectINCOME
dc.subjectINCOMES
dc.subjectINFORMATION DISCLOSURE
dc.subjectINFORMATION FLOWS
dc.subjectINSIDER TRADING
dc.subjectINSTITUTIONAL DEVELOPMENT
dc.subjectINSTITUTIONAL ENVIRONMENT
dc.subjectINSTITUTIONAL INVESTORS
dc.subjectINSTITUTIONAL STRUCTURE
dc.subjectINSURANCE
dc.subjectINTERNATIONAL BANK
dc.subjectINTERNATIONAL CAPITAL
dc.subjectINTERNATIONAL CAPITAL MARKETS
dc.subjectINTERNATIONAL MARKETS
dc.subjectINTERNATIONAL STANDARD
dc.subjectINVESTING
dc.subjectINVESTMENT OPPORTUNITIES
dc.subjectINVESTMENT PRIVATIZATION
dc.subjectINVESTMENT PROJECTS
dc.subjectINVESTOR PROTECTION
dc.subjectINVESTOR PROTECTIONS
dc.subjectISSUERS OF SECURITIES
dc.subjectJUDICIAL SYSTEM
dc.subjectJUDICIARY
dc.subjectJURISDICTIONS
dc.subjectLEGAL ENVIRONMENTS
dc.subjectLEGAL FRAMEWORKS
dc.subjectLEGAL INSTITUTIONS
dc.subjectLEGAL MECHANISMS
dc.subjectLEGAL PROTECTION
dc.subjectLEGAL PROTECTIONS
dc.subjectLEGAL TRADITION
dc.subjectLEGISLATION
dc.subjectLIQUIDITY
dc.subjectLOAN
dc.subjectLOAN CLASSIFICATION
dc.subjectLONG-TERM FINANCE
dc.subjectMAJORITY SHAREHOLDERS
dc.subjectMARKET CAPITALIZATION
dc.subjectMARKET DEVELOPMENT
dc.subjectMARKET PRICES
dc.subjectMINORITY INVESTORS
dc.subjectMINORITY SHAREHOLDERS
dc.subjectMONETARY FUND
dc.subjectMOTIVATIONS
dc.subjectNATIONAL BANK
dc.subjectOPPORTUNITY COST
dc.subjectOUTSIDE INVESTORS
dc.subjectOWNERSHIP STRUCTURE
dc.subjectOWNERSHIP STRUCTURES
dc.subjectPENALTIES
dc.subjectPENSION
dc.subjectPENSION FUNDS
dc.subjectPOLITICAL ECONOMY
dc.subjectPORTFOLIOS
dc.subjectPOTENTIAL INVESTMENT
dc.subjectPREFERENTIAL ACCESS
dc.subjectPRIVATE CAPITAL
dc.subjectPRIVATE CAPITAL FLOWS
dc.subjectPRIVATE ENTITIES
dc.subjectPRIVATE INVESTORS
dc.subjectPRIVATE OWNERSHIP
dc.subjectPRIVATE PARTIES
dc.subjectPRIVATE PENSION
dc.subjectPRIVATE SALES
dc.subjectPRIVATE SECTOR DEVELOPMENT
dc.subjectPRIVATIZATION
dc.subjectPRIVATIZATIONS
dc.subjectPROPERTY RIGHTS
dc.subjectPUBLIC INSTITUTIONS
dc.subjectRATING AGENCIES
dc.subjectREGULATORS
dc.subjectREGULATORY AGENCIES
dc.subjectREGULATORY AUTHORITIES
dc.subjectREGULATORY BODIES
dc.subjectREGULATORY INTERVENTIONS
dc.subjectREINVESTMENT
dc.subjectREINVESTMENT RATES
dc.subjectREPRESENTATIVES
dc.subjectREPUBLICS
dc.subjectREPUTATION
dc.subjectREPUTATIONS
dc.subjectRESOURCE ALLOCATION
dc.subjectRISK OF CONTRACT REPUDIATION
dc.subjectRISK OF EXPROPRIATION
dc.subjectRULE OF LAW
dc.subjectSECURITIES
dc.subjectSECURITIES EXCHANGES
dc.subjectSECURITIES MARKETS
dc.subjectSECURITIES REGULATOR
dc.subjectSELF-REGULATION
dc.subjectSEPARATION OF POWERS
dc.subjectSHARE PRICES
dc.subjectSHAREHOLDER
dc.subjectSHAREHOLDER RIGHTS
dc.subjectSHORT-TERM CAPITAL
dc.subjectSOCIAL WELFARE
dc.subjectSOCIALISM
dc.subjectSTATE OWNERSHIP
dc.subjectSTATE PROPERTY
dc.subjectSTATE REVENUES
dc.subjectSTOCK EXCHANGE
dc.subjectSTOCK EXCHANGES
dc.subjectSTOCK MARKETS
dc.subjectSTRATEGIC INVESTOR
dc.subjectTAX
dc.subjectTAX PAYMENTS
dc.subjectTRADE CREDITS
dc.subjectTRANSACTION
dc.subjectTRANSACTION COSTS
dc.subjectTRANSFER OF TITLE
dc.subjectTRANSITION COUNTRIES
dc.subjectTRANSITION ECONOMIES
dc.subjectTRUSTEE
dc.subjectVALUATION
dc.subjectVENTURE CAPITALISTS
dc.subjectVOTING
dc.subjectVOUCHER PRIVATIZATION
dc.subjectVOUCHER PRIVATIZATIONS
dc.subjectWAGES
dc.titlePrivatization and Corporate Governance : Principles, Evidence, and Future Challengesen
dc.typeJournal Articleen
dc.typeArticle de journalfr
dc.typeArtículo de revistaes
dspace.entity.typePublication
okr.date.disclosure2013-04-15
okr.date.doiregistration2025-05-06T10:53:14.684409Z
okr.doctypePublications & Research::Journal Article
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/2001/03/17580028/privatization-corporate-governance-principles-evidence-future-challenges
okr.globalpracticeFinance and Markets
okr.globalpracticeGovernance
okr.globalpracticeTrade and Competitiveness
okr.guid839771468320344891
okr.identifier.externaldocumentum000442464_20130415160505
okr.identifier.internaldocumentum17580028
okr.identifier.report76656
okr.journal.nbpages59-84
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2013/04/15/000442464_20130415160505/Rendered/PDF/766560JRN0WBRO00Box374385B00PUBLIC0.pdfen
okr.peerreviewAcademic Peer Review
okr.topicBanks and Banking Reform
okr.topicFinance and Financial Sector Development::Debt Markets
okr.topicGovernance::National Governance
okr.topicPrivate Sector Development::Emerging Markets
okr.topicGovernance::Governance Indicators
okr.unitDECRG: Macroeconomics & Growth (DECMG)
okr.volume16(1)
relation.isJournalIssueOfPublication3ed19342-2042-4ed1-9ec7-c60143fd5b94
relation.isJournalIssueOfPublication.latestForDiscovery3ed19342-2042-4ed1-9ec7-c60143fd5b94
relation.isJournalOfPublication9e5fbe82-492f-4142-8378-17d50245d9de
relation.isJournalVolumeOfPublication9c60ea5a-057b-4db9-a545-ca99f805ec12
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