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¿Deben las empresas propiedad del Estado cambiar de presidente ejecutivo antes de una privatización? El caso de la industria de telecomunicaciones

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  • Alberto Chong
  • Virgilio Galdo
Abstract
(Disponible en idioma inglés únicamente) ¿Deben las compañías propiedad del Estado cambiar de presidente ejecutivo en la antesala de su privatización? Ponemos a prueba opiniones encontradas sobre esta cuestión complementando una base de datos dada a conocer recientemente con datos también recabados recientemente. Podemos cubrir 77 procesos de privatización de empresas de telecomunicaciones, que representan casi 80% del ramo en términos de valor. Hallamos que el reemplazo del presidente ejecutivo hace mejorar el rendimiento de la actividad de telecomunicaciones antes de una privatización, en términos de penetración, eficiencia en operaciones y rentabilidad. El cambio de presidente ejecutivo antes de una privatización parece tener consecuencias reales sobre el desempeño de las empresas antes de su privatización. Además, los hallazgos se corresponden con investigaciones anteriores que vinculan el reemplazo del presidente ejecutivo con el aumento del precio de la privatización.

Suggested Citation

  • Alberto Chong & Virgilio Galdo, 2003. "¿Deben las empresas propiedad del Estado cambiar de presidente ejecutivo antes de una privatización? El caso de la industria de telecomunicaciones," Research Department Publications 4322, Inter-American Development Bank, Research Department.
    • Handle: RePEc:idb:wpaper:4322
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    References listed on IDEAS

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    1. Alberto Chong & Florencio Lopez-de-Silanes, 2004. "Privatización en México," Research Department Publications 4374, Inter-American Development Bank, Research Department.
    2. Florencio López-de-Silanes, 1997. "Determinants of Privatization Prices," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 112(4), pages 965-1025.
    3. Barberis, Nicholas & Maxim Boycko & Andrei Shleifer & Natalia Tsukanova, 1996. "How Does Privatization Work? Evidence from the Russian Shops," Journal of Political Economy, University of Chicago Press, vol. 104(4), pages 764-790, August.
    4. Rafael La Porta & Florencio López-de-Silanes, 1999. "The Benefits of Privatization: Evidence from Mexico," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 114(4), pages 1193-1242.
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