@inproceedings{39d3cfbc7f5f460395c6ab5fe5704cd8,
title = "The Financial Performance of Privatised Firms: Evidence From Three Transition Economies",
abstract = "There is a gap between the theoretical literature which almost unanimously advocates privatisation of enterprises, as a part of the solution for the commitment problem in economies in transition, and empirical evidence on how best to design a privatisation programme in order to secure an efficient use of resources. This paper contributes to this debate by focusing on the determinants of financial performance of privatised firms in Poland, Hungary, and the Czech Republic. Our results suggest positive long-term returns for foreign investors in newly privatised companies. The returns are particularly high and statistically significant for investors in Polish companies. The long-term performance is influenced by firms' size, retained state ownership, and the choice of a privatisation method.",
author = "Ranko Jelic and R Briston and W Aussenegg",
year = "2001",
month = jun,
day = "17",
doi = "10.2139/ssrn.273875",
language = "English",
booktitle = "EFMA 2001 Lugano Meeting",
note = "European Financial Management Association 2001 Annual Meeting, EFMA ; Conference date: 27-06-2001 Through 30-06-2001",
}