The purpose of this paper is to examine corporate governance mechanisms applied to a particular form of ownership structure: the privatization. Using, a series of statistical and econometric analysis, we show that privatization is likely to occur in an environment that validates supports and promotes the conditions for atomicity, free exercise, flexibility and transparency. This environment is characterised by the existence of foreign investors and the independence of their boards. These findings suggest that a successful privatization should be accompanied by structural changes after which it would be possible to formulate the principles of governance.
Copyright: © 2018 The Author(s)
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