Publication: What Factors Determine Auction Prices in Privatization?
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Date
1997-06
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Published
1997-06
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Abstract
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.
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“López-de-Silanes, Florencio. 1997. What Factors Determine Auction Prices in Privatization?. Viewpoint: Public Policy for the Private Sector; Note No. 116. © World Bank, Washington, DC. http://hdl.handle.net/10986/11582 License: CC BY 3.0 IGO.”
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