000			01995nam a22002537a 4500
003			ZW-GwMSU
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008			240416b |||||||| |||| 00| 0 eng d
022			_a09670750
040			_aMSU _bEnglish _cMSU _erda
100	1		_aLoc, Truong Dong _eauthor
245	1	0	_aThe impact of privatization on firm performance in a transition economy : _bthe case of Vietnam/ _ccreated by Truong Dong Loc, Ger Lanjouw and Robert Lensink
264	1		_aOxford: _bBlackwell Publishing, _c2006.
336			_2rdacontent _atext _btxt
337			_2rdamedia _aunmediated _bn
338			_2rdacarrier _avolume _bnc
440			_aEconomic of transition _vVolume 14, number 2
520	3		_aThe Vietnamese privatization programme, launched in 1992, differs from the usual Western privatization programmes in terms of the residual percentage of shares owned by the state and the portion of shares owned by insiders. This begs the question whether these differences influence the effects of the programme on firm performance. This study measures the impact of privatization on firm performance in Vietnam by comparing the pre- and post-privatization financial and operating performance of 121 former state-owned enterprises (SOEs). We find significant increases in profitability, sales revenues, efficiency and employee income. Results of applying the 'difference-in-difference' (DID) method, wherein a control group of firms is used to pick up the influence of other determinants of firm performance, suggest that the performance improvements may indeed be associated with equitization. Regression analyses reveal that firm size, residual state ownership, corporate governance and stock market listing are key determinants of performance improvements.
650			_aPrivatization _vOwnership structure _xFirm performance _zVietnam
700	1		_aLLanjouw, Ger _eco author
700	1		_aLensink, Robert _eco author
856			_uhttps://doi.org/10.1111/j.1468-0351.2006.00251.x
942			_2lcc _cJA
999			_c164905 _d164905