Long-run performance of an industry after broader reforms including privatization

    Research output: Contribution to journalArticlepeer-review

    121 Downloads (Pure)

    Abstract

    Research on the impacts of broader reforms, including privatization on firms’ long-run financial and operational performance, is extremely important but only occasionally performed. This study evaluates the long-run financial performance, total factor productivity, efficiency and technology of Pakistani cement manufacturing firms. We conclude that privatized firms have in fact achieved significant productivity growth in the long run due to technological progress compared to no growth in the pre-reform period. Interestingly, however, better productive performance has not contributed to long-run profitability and income efficiency gains, thereby casting serious doubt on the long-run financial benefits of reforms, including privatization.
    Original languageEnglish
    Number of pages24
    JournalResearch in International Business and Finance
    Early online date14 Jul 2017
    DOIs
    Publication statusEarly online - 14 Jul 2017

    Keywords

    • Privatization
    • Reforms
    • Productivity
    • Technical change
    • Financial performance
    • Cement industry
    • Pakistan

    Fingerprint

    Dive into the research topics of 'Long-run performance of an industry after broader reforms including privatization'. Together they form a unique fingerprint.

    Cite this