Privatization and Restructuring : An Incomplete-Contract Approach

An Incomplete-Contract Approach

Privatization and Restructuring : An Incomplete-Contract Approach
Since an enterprise, which is to be privatized, has to be restructured in uncertainty, and the restructuring investments are sunk when the final decision on the sale price is taken, there is an imminent danger that restructuring is not efficient, and there is underinvestment. We consider, restructuring by the private buyer of the firm, by a... READ MORE...

Publication date: September 1996
ISBN 9781451852486
$15.00

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