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Politicians and Firms
Open accessAbstract
We present a model of bargaining between politicians and managers that explains many stylized facts about the behavior of state firms, their commercialization, and privatization. Subsidies to public enterprises and bribes from managers to politicians emerge naturally in the model. We use the model and several extensions to understand why commercialization and privatization might work, and what forces contribute to effective restructuring of public enterprises. We illustrate the model using examples from several countries.
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Citations
Cited by
A Survey of Corporate Governance
Shleifer, A., & Vishny, R. W. (1997) · The Journal of Finance · doi:10.1111/j.1540-6261.1997.tb04820.x · Cited by 16,243
Self-citationLa Porta, R. (1999) · Journal of Law, Economics, and Organization · doi:10.1093/jleo/15.1.222 · Cited by 5,699
Firms, Contracts, and Financial Structure
Hart, O. (1995) · doi:10.1093/0198288816.001.0001 · Cited by 4,672
Do Lenders Favor Politically Connected Firms? Rent Provision in an Emerging Financial Market
Khwaja, A. I., & Mian, A. (2005) · The Quarterly Journal of Economics · doi:10.1162/003355305775097524 · Cited by 2,366
Chen, Y.-C., Hung, M., & Wang, Y. (2018) · Journal of Accounting and Economics · doi:10.1016/j.jacceco.2017.11.009 · Cited by 1,456
Metadata
- Authors
- Shleifer, A., & Vishny, R. W.
- Venue
- The Quarterly Journal of Economics
- Publisher
- Oxford University Press (OUP)
- Published
- 1994-11-01
- Volume
- 109
- Issue
- 4
- Pages
- 995-1025
- ISSN
- 0033-5533 (ISSN-L)
- 1531-4650
- OpenAlex
- W2030132760
- Cited by
- 3,336
- References
- 0
- FWCI
- 93.06
- Type
- journal article
- Language
- en
- Open access
- green
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- Shleifer, A., & Vishny, R. W. (1994). Politicians and Firms. The Quarterly Journal of Economics. https://doi.org/10.2307/2118354
Data sources
Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
