| 来源类型 | FEEM working papers "Note di lavoro" series |
| 规范类型 | 论文 |
| Privatization and Labor Force Restructuring Around the World | |
| Alberto Chong; Florencio López-De-Silanes | |
| 发表日期 | 2002 |
| 出处 | Economy and Society |
| 出版年 | 2002 |
| 语种 | 英语 |
| 摘要 | Critics of privatization argue that poor labor force restructuring is a key concern and that governments should establish better retrenchment programs. Using new data from arandom sample of 400 companies in the world, we test competing theories about the wisdom of retrenchment programs and their effect on prices paid by buyers and rehiringpolicies by private owners after privatization. Our results show that adverse selection plagues retrenchment programs carried out by governments before privatization. Controlling for endogeneity, several labor retrenchment policies yield a negative impacton net privatization prices. In confirmation of the adverse selection argument, various types of voluntary downsizing lead to a higher probability of rehiring the same workers by the new private owners. Compulsory skill-based programs are the only type of program that is marginally associated with higher prices and lower rehiring rates after privatization, but the political and economic costs of this policy may make it somewhat unpractical. A qualified ‘do not intervene’ appears to be the safest bet in labor retrenchment before privatization. |
| 特色分类 | G32,H10,J45,O1 |
| 关键词 | Privatization,downsizing,adverse selection,corporate governance |
| URL | https://www.feem.it/en/publications/feem-working-papers-note-di-lavoro-series/privatization-and-labor-force-restructuring-around-the-world/ |
| 来源智库 | Fondazione Eni Enrico Mattei (Italy) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/116821 |
| 推荐引用方式 GB/T 7714 | Alberto Chong,Florencio López-De-Silanes. Privatization and Labor Force Restructuring Around the World. 2002. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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