巴西的净私有化价格

IF 5.6 2区经济学 Q1 BUSINESS, FINANCE

Emerging Markets Review Pub Date : 2024-05-06 DOI:10.1016/j.ememar.2024.101143

José Eusébio Santos , Corrado Andini

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引用次数: 0

摘要

通过观察 1991 年至 2018 年间巴西的私有化案例，我们研究了私有化净价格如何对出售前实施的重组政策以及出售时出现的私人所有权结构做出反应。我们创新性地同时考虑了重组和所有权，并探索了一个独特的数据集，该数据集涵盖 139 项交易，主要是通过实地调查建立的。本文为政策制定者提供了一份 "该做和不该做 "的清单，以便从出售中获取更高的价值。该清单可作为巴西以及其他新兴经济体新私有化的政策指南。

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Net privatisation prices in Brazil

Looking at Brazilian privatisations between 1991 and 2018, we investigate how net privatisation prices react to restructuring policies that are implemented before the sale as well as to private ownership structures that emerge at the sale. We innovate by accounting for restructuring and ownership at the same time and also by exploring a unique dataset that covers 139 transactions, mainly built through fieldwork. The paper provides policymakers with a “do's and don'ts” checklist to extract higher value from the sale. The checklist can be used as a policy guideline for new privatisations in Brazil and potentially in other emerging economies.

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来源期刊

Emerging Markets Review Multiple-

CiteScore

7.10

自引率

4.20%

发文量

审稿时长

100 days

期刊介绍： The intent of the editors is to consolidate Emerging Markets Review as the premier vehicle for publishing high impact empirical and theoretical studies in emerging markets finance. Preference will be given to comparative studies that take global and regional perspectives, detailed single country studies that address critical policy issues and have significant global and regional implications, and papers that address the interactions of national and international financial architecture. We especially welcome papers that take institutional as well as financial perspectives.