Management Control and Privatization in the United Kingdom

Abstract

We examine the links between ownership and internal control for a sample of 112 state-owned, privatized, and publicly traded firms in the United Kingdom from 1970 to 1994.Privatized firms with at least four years in the private sector, like established publicly traded firms, exhibit a significant negative relationship between improved performance and the probability of resignation.Simulations using model estimates show a one-standard-deviation decrease in performance raises the probability of resignation by 90% in publicly traded firms and by 180% in established privatized firms.Stateowned firms and privatized firms in their first four years show no relationship between the probability of resignation and changes in financial performance.

Cite this work

No public copy is stored for this record, so only the metadata is cited.

Stored only when both papers are in the corpus — 83 citations exist upstream.

Papers that cite the same references — the relational fallback while embeddings are still backfilling.