The study uses new firm-level data to examine the effects of spin-offs and privatization on corporate performance in a rapidly emerging market economy. The study provides evidence that it is important to control for changes in ownership when analyzing spin-offs and generally to control for endogeneity, selection and data attrition when analyzing the effects of spin-offs and privatization
Link
http://d.repec.org/n?u=RePEc:wdi:papers:2004-685&r=all