THE EFFECT OF PRIVATIZATION ON PERFORMANCE AND RETURN: THE CASE OF A JAPANESE RAILWAY COMPANY
Journal Title: Global Business & Economics Anthology - Year 2019, Vol 1, Issue 1
Abstract
We examine the recent privatization of a Japanese railway company, the Kyushu Railway Company. This case is unique in that all of the firm’s shares were sold at one time rather than in stages over the years. We show that the company’s performance improved with statistical significance against its benchmarks. We also test investors’ stock return post-privatization and show that the stock delivers at least a fair market return against the benchmarks. We conclude that the company’s privatization resulted in improved performance for the company and a fair market return for investors.
Authors and Affiliations
Keywords
Related Articles
- EP ID EP528549
- DOI -
- Views 84
- Downloads 0
THE POLITICAL ECONOMY OF BUDGET DEFICIT: A PANEL DATA ANALYSIS
This study has a major motivation to empirically find the fundamentals of budget deficit instability for the period 1984 to 2016 using unbalanced panel data set of 89 countries. This study has tried to empirically evalua...
AN EVALUATION OF TAX EXPENDITURES AND DIRECT EXPENDITURES: CASE STUDY OF PAKISTAN
This paper evaluates in Pakistan. The data from the Manufacturing Sector of Pakistan for a period of 1972 to 2013 is used in...
THE EFFECT OF PRIVATIZATION ON PERFORMANCE AND RETURN: THE CASE OF A JAPANESE RAILWAY COMPANY
We examine the recent privatization of a Japanese railway company, the Kyushu Railway Company. This case is unique in that all of the firm’s shares were sold at one time rather than in stages over the years. We show that...
DO BANK LOTTERY PRIZES AFFECT BANKS PERFORMANCE?
The aim of this study is to test the impact of lottery prizes as a depositor marketing tool in banking sector of Jordan. It is of high interest for academics and specialists in finance and marketing as well as the invest...
IMPACT OF HUMAN CAPITAL FORMATION ON ECONOMIC GROWTH: EVIDENCE FROM BANGLADESH
The purpose of this study is to investigate the impact of human capital formation on economic growth of Bangladesh. The study uses the current expenditure on health and public expense on education to measure the human ca...