Life After Privatization
Life After Privatization by Raj S. Chari, published by Oxford University Press in 2015, is an illustrated edition comprising 289 pages. This book presents a theoretical exploration of the trajectories of state-owned enterprises following their privatization from the late 1970s onward. It examines the varying outcomes of these firms, categorizing them as Alphas or Betas based on their current status in sectors such as airlines, automobiles, and electricity across several European countries.
Readers will find a detailed analysis that integrates themes from Political Science and Business Studies, addressing the internal and external factors influencing a firm’s evolution post-privatization. The book raises critical questions about the roles of liberalization, state involvement, and regulatory actions in shaping the success of privatized firms. Through comprehensive evidence, Life After Privatization culminates in a novel inductive theory that enhances the understanding of the political dynamics businesses encounter in global markets.
Official synopsis Publisher
Life After Privatization offers a refreshing and original theoretical conceptualization of what happened to stateowned enterprises after they were privatized from the late 1970s onwards. Some privatized firms have become todays European and global giants, Alphas, merging with or acquiring other firms, whereas other firms, Betas, have been taken over by Alphas or other sectoral leaders. The book raises questions such as which privatized firms in the airline, automobile, and the electricity sectors in the UK, France, Germany, Italy and Spain are Alphas and Betas today? And why? Building on a variety of themes from both Political Science and Business Studies, it considers a comprehensive set of explanations both internal and external to the firm, to analyse why a firm may become an Alpha or a Beta. The evidence shows that while internal factors are important, the more external, political, factors are necessary and sufficient to explain why a firm becomes an Alpha or a Beta. This includes the impact of liberalization, the roles of states, and the actions of regulators that are lobbied by firms. Based on exhaustive evidence, Life After Privatization concludes with a novel inductive theory, which offers a significant step forward for social science scholars and practitioners understanding of the politics businesses face in global markets.
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