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| Author: | Bös, D. |
| Title: | Privatization and restructuring: An incomplete-contract approach |
| Journal: | Journal of Institutional and Theoretical Economics
1999 : JUN, VOL. 155:2, p. 362-382 |
| Index terms: | Companies Privatization Investments |
| Freeterms: | Restructuring |
| Language: | eng |
| Abstract: | If an enterprise is restructured prior to privatization, underinvestment in restructuring is very likely. This is a special hold-up problem in privatization. Efficient restructuring can be attained if it is performed by either the buyer or a cash-revenue maximizing privatization agency. |
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