| Summary: | 碩士 === 南台科技大學 === 企業管理系 === 99 === Privatization is the transformation of state-owned enterprises (SOEs) into joint-stock companies. This is done by selling off parts of state-owned enterprises to private investors in the form of company shares. Privatization of state-owned enterprises should make the enterprise more competitive in financial and operating performance. The purpose of this study was to investigate the impact of privatization Vietnamese state-owned enterprises and on their financial and operating performance.
With the intention of providing useful and practical reference to these enterprises and industrials, a matched-pair methodology- developed by Megginson, Nash, and Randenborgh (1994) - and named MNR methodology was used to do the comparisons of pre-privatization versus post-privatization, in terms of the enterprises’ performance.
We determined whether privatization affects firms’ performance by comparing the pre- and post-privatization financial and accounting data. For data mining and information collection, privatized SOEs either listing on the Vietnamese stock exchanges were chosen to be the concentrated scope of this study. The findings indicate that financial and operating performance after privatization better than before privatization.
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