Jump to ContentJump to Main Navigation
The Financial Economics of Privatization$
Users without a subscription are not able to see the full content.

William Leon Megginson

Print publication date: 2005

Print ISBN-13: 9780195150629

Published to Oxford Scholarship Online: October 2005

DOI: 10.1093/0195150627.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (www.oxfordscholarship.com). (c) Copyright Oxford University Press, 2019. All Rights Reserved. Under the terms of the licence agreement, an individual user may print out a PDF of a single chapter of a monograph in OSO for personal use (for details see www.oxfordscholarship.com/page/privacy-policy).date: 20 June 2019

Privatization's Impact on Financial Market Development

Privatization's Impact on Financial Market Development

(p.234) 7 Privatization's Impact on Financial Market Development
The Financial Economics of Privatization

William Leon Megginson (Contributor Webpage)

Oxford University Press

This chapter examines the impact of share issue privatizations (SIPs) on the growth of world capital markets, especially stock markets. It also studies privatization’s impact on the pattern of share ownership by individuals and institutional investors. It begins by documenting the increasing importance of capital markets and the declining role of commercial banks in corporate financial systems around the world. It shows that privatization programs, particularly those involving public share offerings, have had a dramatic impact both on the development of non-US stock markets and the participation of individual and institutional investors in those markets. The components of a nation’s corporate governance system are described, and how privatization programs can promote the development of an effective corporate governance system is discussed.

Keywords:   share issue privatization, SIP, stock markets, capital markets, corporate governance

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .