Characteristics of Privatization: Evidence from Developed, Less-Developed and Former Communist Countries

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A privatization wave has swept the world, starting in the U.K. in the early 1980s and then progressing to other developed and less-developed nations. This study examines how the country characteristics for the formerly state-owned enterprises relate to the nature of the privatization deal and the strategy of the acquiring firm. In particular, this paper examines how country characteristics affect government privatization policies and, in turn, firm strategy. Results indicate that there are differences with respect to the characteristics of privatization and government policies that translate into differences in firm strategy in former communist, less-developed and developed countries.

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*Julio O. De Castro (Ph.D.. The University of South Carolina) is Assistant Professor of Strategy and Organization Management at the University of Colorado at Boulder. His research focuses on privatization of state-owned enterprises and firm strategy. Professor De Castro received the 1994–95 Robert S. McNamara Fellowship from the World Bank to study privatization of state-owned enterprises.

**Klaus Uhlenbruck (Ph.D., University of Colorado) is Assistant Professor of Management at the California State University in San Marcos. He currently focuses his research on entry into Central and Eastern European markets.

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De Castro, J., Uhlenbruck, K. Characteristics of Privatization: Evidence from Developed, Less-Developed and Former Communist Countries. J Int Bus Stud 28, 123–143 (1997). https://doi.org/10.1057/palgrave.jibs.8490843

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